Saudi Arabia's Kennan Holding eyes EGP 2B industrial complex in Egypt

Updated 9/25/2025 11:58:00 AM

Arab Finance: Egypt and the Saudi-based Kennan Holding are mulling over plans to establish an industrial complex with investments totaling EGP 2 billion in Egypt, according to a statement.

The complex will comprise several integrated factories, including one dedicated to the production of all copper pipe fittings, faucets, and valves.

It will also include a factory will manufacture zinc and stainless steel accessories and handles for valves, faucets, and pipe fittings.

This is in addition to a third facility specializing in the production of copper water mixers in various shapes and colors.

Expected to create more than 1,000 direct job opportunities, the project aims to enhance production capacity and expand the metal industry base in Egypt.

In a meeting with a delegation from the Saudi company, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir empahsized that the Egyptian government supports key investments.

El-Wazir also affirmed the state’s commitment to the wise management of strategic resources, particularly copper scrap.

Copper scap is a rare strategic resource, and its exploitation shall maintain a balance between meeting local market needs and reducing reliance on imports, while opening the door to exports after achieving self-sufficiency, he noted.

He pointed out that Egypt welcomes quality investments, taking into account securing local market needs and then expanding into global markets.

The minister directed all land and sea ports not to allow the export of copper, whether in the form of scrap or rods, until it has been processed into its final form.

This move aims to ensure that local market needs are met first and maximize added value before export.