The team, Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, witnessed an important meeting with a group delegation. Kenan Holding Saudi Arabia Under the chairmanship of Mr. Al-Muhalleb. The meeting came to present the plans of the wide range of growth in the Egyptian market, with the participation of Dr. Nahed Youssef, Chairman of the General Authority for Industrial Development and senior officials in the Ministry of Industry.
The Group reviewed its plans to establish an integrated industrial complex with investments of up to LE 2 billion, which will include a group of specialized factories, including a factory for the production of water connections and copper faucets, and another for the manufacture of accessories and hands of zinc and stainless steel, in addition to a factory for the production of copper water mixers of various specifications.
Productive capacity
This project will have a significant impact, creating more than 1,000 direct jobs, boosting production capacities and increasing the diversity of Egypt’s metal industries.
At the beginning of the meeting, the minister stressed the importance of strengthening industrial relations between Egypt and theSaudi ArabiaBased on the deep strategic partnership between the two countries. He stressed that joint industrial cooperation opens new areas to support the Egyptian and Arab economies, and increases the added value of local and international markets.
Group proposals
The minister also pointed out that the ministry will study the group’s proposals carefully and follow up on new expansions that will contribute to reducing imports and boosting exports, while providing job opportunities for young people.
The minister also stressed the government’s support for serious investments, with a focus on rational management of strategic resources, stressing the importance of judiciously exploiting copper scrap to meet the needs of the local market and reduce dependence on imports, while allowing exports after achieving self-sufficiency.
All land and sea ports
In this context, the Minister directed all land and sea ports to not allow the exit of copper, whether in the form of scrap or sticks, only after its manufacture to ensure increased value added before export.
For his part, Muhileb Al-Muhileb explained that the factory located in the area of Mojram in Alexandria is converting copper scrap into alloys conforming to international specifications through an advanced production system that includes furnaces, paint lines, turning and hot forming processes using the latest technology.
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He pointed out that the factory meets a large part of the needs of the local market and contributes to the export of its products to a number of countries, reflecting the high competitiveness of Egyptian products in regional and international markets.
