Arab Finance: The Egyptian cabinet has granted the golden license to the Egyptian Natural Gas Company (GASCO) to increase the capacity of the Western Desert Gas Complex with a fourth production line of a design capacity of 600 million cubic feet per day, according to a statement on September 20^th.

This project will be implemented on an area of about 33 feddans in the Industrial Renaissance Zone, in Amreya, Alexandria, at a total cost of $380 million.

The fourth production line is set to boost the production of natural gas derivatives and meet the market’s needs for petrochemical raw materials.

EgyptSat Auto also obtained the golden license to establish and operate a $300 million factory to manufacture electric passenger cars and buses, electric vehicle (EV) charging stations, electric scooters, electric bicycles, electric vehicle components, and their spare parts.

These EVs shall be manufactured by the end of 2024.

The project will be implemented on an area of about 50,000 square meters in the industrial zone in the tenth city of Ramadan, Sharqia.

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