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ZONES-
#1- Over 1k investors are lining up for serviced industrial land plots in Egypt: Egypt’s Tenth of Ramadan Investor Association has received over 1k requests from local investors for serviced industrial land, the association’s VP Sobhy Nasr told Al Arabiya. These applications, spanning sectors such as engineering, food, pharma, and chemicals, have been submitted to the Industrial Development Authority for review and allocation. While the total requested areas remain unspecified, Nasr emphasized that “large areas” are needed for multi-bn-EGP projects that could generate thousands of jobs.
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The gov’t is expanding industrial zones nationwide: The Madbouly government is working to expand industrial zones in cities including the Tenth of Ramadan, Sadat CIty, and Kom Abu Radi. Plans for the Tenth of Ramadan extension span 31k feddans and will roll out in three phases. The first phase, covering 13k feddans, is expected to be serviced within 3-4 months, Nasr added.
#2- Eroglu Holding opens another clothing plant in Egypt’s Qantara West: Turkish clothing manufacturer Eroglu Holding has broken ground on its USD 51 mn garment factory in Egypt’s Qantara West Industrial Zone, making it the third project launched in the area within the past fourth months, according to a Suez Canal Economic Zone statement. Spanning 84.2 sqm, the factory is expected to create some 5k jobs when operational.
ICYMI- Eroglu Holding broke ground on its USD 40 mn denim factory in the Qantara West Industrial Zone back in August, with the facility slated to come online in January 2025.
#3- Turkish firm eyes USD 60 mn pipeline factory in Egypt: Turkish Investment group Erciyas Holding is looking to establish a USD 60 mn oil, natural gas, and water pipelines factory in Egypt, according to a statement from the Investment Ministry. The factory will focus on producing large-pressure pipes with the aim of generating USD 200 mn in revenues from the project in an undisclosed period. Some 40% of output will be allocated to the local market and the remaining 60% will be exported.
DATA CENTERS-
Pure Storage to boost data storage services in Egypt: Egypt’s leading financial facilities investment management firm e-Finance has inked a strategic partnership agreement with US-based Pure Storage to boost data storage facilities and management solutions in the country, MENA reports. Pure Storage is set to expand cloud computing services in Egypt by providing access to its range of data storage solutions, including comprehensive data protection, backup, and recovery services.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Iraq Airways brings back Boeing aircraft: Iraq Airways has returned their seventh Boeing 737-800 aircraft to service after undergoing maintenance. This is the 13th out of 15 aircraft set to return to service by the end of the year. (Statement)
- SCZone + ECS working to attract FDI to Egypt: The Suez Canal Economic Zone (SCZone) inked a cooperation protocol with the Egyptian Commercial Service Authority (ECS) to bolster cooperation in attracting foreign direct investment (FDI) to Egypt. (Statement)
