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Egypt grants gold licenses to 8 projects

Egypt grants gold licenses to 8 projects

Arab Finance: Eight investment projects have been granted gold licenses from the Supreme Committee, headed by Egyptian Prime Minister Mostafa Madbouly, the Cabinet’s Spokesperson Nader Saad revealed on December 4th.

The Gold License has been granted to Haier Egypt for the establishment of an industrial complex for electronics, as well as to CFC Feed and Chemicals for the establishment of a factory for the production of fodder, chemicals, and plant nutrients.

Moreover, Al Araby Group for Industrial Development and Trade has also received the license for building and operating a plant for manufacturing and assembling home appliances and electronics.

The license has been also granted to Egypt for Green Hydrogen Company for generating green hydrogen from a 100-megawatt plant at the industrial zone in Ain Sokhna.

Egypt for Green ammonia’s project to produce 1 million tons a year at the industrial zone in Ain Sokhna also received the Gold License.

Additionally, Yazaki Egypt received the license for its private free zone system project for manufacturing all types of power distribution systems, while SE Wiring Systems Egypt obtained the license for manufacturing all kinds of vehicles’ electric wires.

Vaccine and Biotechnology City (VBC) project also got the Gold License to build and operate a plant for producing and packaging all kinds of vaccines and biopharmaceuticals.

These projects will be discussed by the Cabinet in its upcoming session.

It is worth noting that the Supreme Committee is responsible for reviewing requests by investors who are interested in the Golden License.

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