The Egyptian Cabinet has agreed to grant the Gold License to eight projects that requested to get the licenses from the General Authority for Investment and Free Zones (GAFI), according to an official statement on December 14th.

The first Gold License was granted to Haier Egypt Limited for the establishment of an industrial complex for the production of electronics in the industrial zone located in the west of the 10th of Ramadan city at an investment cost of $135 million, offering jobs for about 1,000 workers, technicians, and managers.

The second project to obtain the license is the manufacture of automotive power distribution systems project to be set up by Yazaki Egypt as per the private free zone system in Faiyum governorate at a cost of $30 million, offering 3,000 jobs.

SE Wiring Systems Egypt received the third license for its project to manufacture all kinds of vehicles’ electric wires at the South investors Area in the 10th of Ramadan city, with €100 million in investments. The project is expected to offer up to 10,000 jobs.

Al Araby Group for Industrial Development and Trade received the fourth license for building and operating a plant for manufacturing and assembling home appliances and electronics at a cost of EGP 8.8 billion in the industrial zone of Quwaysna in Monufia governorate.

The fifth Gold License was granted to Egypt for Green Hydrogen Company for generating green hydrogen from a 100-megawatt plant at the industrial zone in Ain Sokhna, with $135 million in investments. The project will offer around 100 job opportunities.

The sixth license was granted to Egypt for Green ammonia’s project to produce 1 million tons a year of green ammonia at the industrial zone in Ain Sokhna at an investment cost of $5.5 billion.

Vaccine and Biotechnology City (VBC) project got the seventh Golden License to build and operate a plant for producing and packaging all kinds of vaccines and biopharmaceuticals, with EGP 3.8 billion in investments, offering 325 jobs.

The eighth license was granted to CFC Feed and Chemicals for the establishment of a factory for the production of fodder, chemicals, and plant nutrients in the governorate of Qena, with $400 million in investments.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).