Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, handed over nine new golden licenses to strategic investment projects, according to an official statement.
This initiative aligned with the state’s efforts to provide more facilities for investors and attract local and foreign investments.
Arab Otsuka Nutraceuticals Co was licensed to establish and operate a factory that produces healthy supplements in the 10th of Ramadan city on an area of 95,000 square meters (sqm) at an investment cost of $40 million.
The project is expected to provide about 100 job opportunities and boost exports to foreign markets.
Meanwhile, the Suez Warehouses Company project was granted the license to establish and operate a strategic warehouse in the Suez Governorate at an investment cost of EGP 1.98 billion on an area of 13 acres.
This project seeks to offer 75 job opportunities and secure strategic goods for the state.
Additionally, El-Khatib greenlighted the EGP 1.374 billion Suez Wind Energy Project, covering the establishment of a power generation station that provides about 550 megawatts (MW) in the first and second phases each.
The minister also granted the Egyptian Minerals and Salts Company (EMISAL) a gold license to develop a project in Fayoum Governorate to produce potassium sulfate fertilizer with a production capacity of 30,000 tons annually.
With investments worth EGP 604 million, the project is being built on an area of 5,600 sqm and is expected to offer about 100 job opportunities.
Established across a 136,000 sqm area in 10th of Ramadan City, the Nuts Land Agricultural Investment project has obtained a golden license. It will focus on processing peanuts and nuts at a total investment of EGP 1.39 billion. This project will create 4,000 jobs and export 80% of its production.
Moreover, a license was provided to MAFI for Agricultural Products, as it will invest $180 million to manufacture and package agricultural products, offering 720 job opportunities. The project, spanning 154,000 sqm, plans to export 100% of its output..—Zawya
