Egypt earmarks EGP 6 bn for land link with Libya, Chad: The Egyptian government has reportedly allocated EGP 6 bn (c. USD 124 mn) for the first phase of a new road project connecting Egypt to Libya and Chad, Asharq Business reports, citing a government official. Construction is set to begin in 3Q 2025 and take three years at a total investment cost of EGP 24 bn.

The details: The road — also known as the East Oweinat-Kufra road — will stretch 1.7k km across the three countries: 400 km in Egypt, 390 km in Libya, and 930 km in Chad, the news outlet reports, citing data from Egypt’s Transport Ministry. The project aims to open a new land corridor to boost trade within African nations

Libya’s stretch made strides last year: Eastern Libya’s Development and Reconstruction Fund inked an MoU last September with Egypt’s Arab Contractors Company to build the Libyan section of the transit road project. The agreement involved carrying out feasibility studies and drafting a preliminary design of the road.

MORE FROM EGYPT-

Two new Chinese projects break ground in Sokhna: Egypt’s Sokhna Industrial Zone will see the construction of two textile projects by China’s Bridge Textile International and F-Tex International, with combined investments exceeding USD 55 mn, according to a statement released on Thursday. The projects are located in the China-Egypt Teda trade zone in Sokhna.

Bridge Textile will develop an integrated textile complex on a 40k sqm plot, with investments exceeding USD 25 mn. The complex — featuring 18 spinning lines and over 100

100 fabric production lines, and six printing and dyeing lines — is projected to generate USD 120 mn in annual sales, of which USD 100 mn will be in foreign currency. Around 80% of production will be exported to Europe and the US.

Meanwhile, F-Tex International will develop a USD 30 mn production plant for Draw Textured Yarn (DTY) polyester fibers on a 55k sqm site. The plant will have an annual production capacity of 130k tons and is expected to generate USD 150 mn in annual export revenues. The facility is expected to begin trial operations within a year and become fully operational by the end of 2027.

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