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Egypt drums up Italian interest: Egypt’s Transport and Industry Minister Kamel El Wazir touched down in Italy this week to discuss transport and industrial investments and cooperation with a number of public and private sector representatives, according to a statement. This comes hot on the heels of Investment Minister Hassan El Khatib visit to Germany last weekend, which garnered much interest from German companies setting up shop in Egypt as a regional export hub.
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What we know so far about which companies have signalled interest:
#1- Home appliances manufacturer Ariston is thinking about expanding its presence in the Egyptian market. The company already has three factories in Obour City over 220k sqm.
#2- Railway company Hitachi Rail — which recently acquired Thales ’ ground transportation unit — is looking to expand its footprint in Egypt, citing the country’s focus on developing its transportation infrastructure. Thales’ former unit is currently developing the first 19-km, 16-station phase of Cairo Metro Line 4 alongside Orascom Construction and Colas Rail.
#3- Industrial vehicles manufacturer Iveco is conducting a feasibility study to launch a new factory in Egypt for truck manufacturing. Iveco cited Egypt’s large consumer market and position as a gateway for exports as among the reasons for its interest.
#4- Railway and urban mobility company Salcef Group discussed establishing a new company in collaboration with Egyptian Railways for Track Renewal and Maintenance Company for the renewal of some 2k km of railway tracks and the provision of railway renewal machinery and equipment.
ALSO– Italian state-owned Italian State Railways discussed submitting an offer to manage and operate Egypt’s high-speed electric rail network, according to a separate statement. The talks come as Deutsche Bahn — initially tapped for the role in 2022 — has yet to submit a financial offer, violating the Transport Ministry’s regulations for awarding contracts, government sources tell Al Borsa. The ministry is reportedly planning to launch a public tender for the network’s management and operation soon, whether through public bidding or a direct award.
