Cairo: Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir chaired the 37th meeting of the Ministerial Group for Industrial Development, where significant approvals were made regarding new industrial projects.
According to State Information Service Egypt, the meeting reviewed proposals from the Suez Canal Economic Authority for two major projects. The first project involves the manufacturing of chemicals, including pesticides, chlorine, and alkalis, with an investment of USD 1 billion on a 320,000 square meter site. The second project focuses on car tire production with investments amounting to USD 291 million over 380,000 square meters. Both projects received approval from the Ministerial Group, pending further endorsement from the Supreme Energy Council for the necessary electricity and gas provisions.
Additionally, the Ministry of Industry plans to issue three new licenses for cement plants, each featuring a single production line. These new licenses, as well as expansion projects for existing cement factories, received approval from both the Ministerial Group and the Supreme Energy Council. The initiative aligns with the state's strategic plan to boost cement production capacity, meet domestic demand, and stabilize the construction and building sector by offering products at reasonable prices. The minister highlighted that these licenses aim to address potential large-scale demand, particularly in light of reconstruction efforts in the Gaza Strip, with project completion and commencement of production anticipated within a year.
The meeting also covered the settlement of natural gas consumption debts for ceramic companies, examining current arrears, previously granted incentives, and repayment statuses. The discussions explored the total outstanding debts, their impact on the ceramic sector, and compliance rates. It also addressed customers' payment behaviors and the measures required to ensure effective debt collection, financial discipline, and sustainable gas supplies, thereby maintaining operational stability in the industrial sector.