Egypt grants 5 new Golden Licences to projects worth EGP 10 bln

Ahram Online , Wednesday 19 Jul 2023

The Egyptian Cabinet granted Golden Licences to five projects with total investments of EGP 10.2 billion ($329.34 million) during a meeting on Wednesday, according to a cabinet statement.

Egyptian Cabinet meeting. Cabinet.
Egyptian Cabinet meeting. Cabinet.


The first project is a 78,000-square-metre recycling factory for alternative fuel and fibre, which will be built by Enviro Process in Minya at a cost of EGP 73.5 million in investments.

The factory is expected to create 170 new jobs.

The second project will be built by Fayoum Company for Storage and Warehouses at a cost of EGP 1.34 billion.

The project comprises designing, building and managing strategic warehouses in the northern Upper Egypt governorate.

It is expected to create 600 jobs during construction and 250 in the operational stage.

The third project is a factory which will be built by Genfax Egypt in Suez at a cost of  $150 million in investments.

The factory will produce medicines, serums, and vaccines and is expected to create up to 900 jobs.

The fourth project is a huge 220,000-square-metre kitchen appliance and machine factory from Media Electric.

The factory will be built in Menoufiya's Sadat City at a cost of $105 million and is expected to create up to 3,100 jobs.

The fifth project is a packaging plant to be built by BILM and Africa in Ismailia at a cost of EGP 885 million.

The project is expected to create up to 350 jobs.

The Golden Licence allows investors to acquire or lease land, and operate enterprises on it, without the need for additional government approvals.

These licences, also known as "single approval licences," were introduced as part of the 2017 Investment Law and were activated in September 2022.

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