GAFI grants new Golden Licenses to 4 companies
Updated 10/29/2023 2:03:00 PM
Arab Finance: The General Authority for Investment and Free Zones (GAFI) has granted new Golden Licenses to four companies, according to an official statement on October 29th.
The companies are Samsung Electronics Egypt, the Egyptian Natural Gas Company (GASCO), Fayoum Company for Storage and Warehouses, and EgyptSat 2.
This brings the total number of companies that received the Golden Licenses to 24.
Samsung Electronics Egypt has obtained the license to ramp up the establishment process of its mobile phones factory in Beni Suef at an investment cost of $55 million.
Meanwhile, GASCO has received the license to boost the capacity of its Western Desert Gas Complex by adding a fourth pipeline with a capacity of 600 million cubic feet of natural gas, ethane-propane mix, and butane, with $380 million in investment.
As for EgyptSat 2, it will use its license to build a plant for manufacturing electric vehicles and buses at the 10th of Ramadan city, with investments of EGP 300 million.
Additionally, Fayoum Company for Storage and Warehouses has gotten its license to pump EGP 1.3 billion into setting up strategic storages.
Related News
