Egypt keen on producing strategic commodities to reduce demand for dollars: Sisi

MENA , Monday 26 Dec 2022

President Abdel-Fattah El-Sisi asserted that the state is keen on bolstering the local production of various products and strategic commodities in order to reduce imports from abroad and ease the high demand for dollars.

Abdel-Fattah El-Sisi
A screen shot of the Egyptian President Abdel-Fattah El-Sisi as he speaks during the inauguration of two factories on Monday 26 December, 2022.


El-Sisi's remarks were made during the inauguration of two factories for medical and industrial gases in Giza's Abu Rawash district earlier on Monday.

El-Sisi noted that the state has been seeking to produce strategic materials such as chlorine and other medical gases to meet local demands.

He also noted that the inauguration of such factories would enable the state to cope with all the medical sector developments that are likely to happen in the coming years.

El-Sisi also added that the state would seek to provide for local hydrogen consumption, stressing that the state is very keen on the stability of the agricultural sector.

El-Sisi said that prices of materials and ores have skyrocketed due to the waves of economic instability in the world.

It is necessary to classify the imported materials according to their importance to the state, added El-Sisi.

The COVID-19 pandemic and the Russia-Ukraine war have severely disrupted supply chains, he said.

El-Sisi said that it is necessary to locally produce products necessary to the state.

Project can take between three to four years to implement, he said, adding that the state is keen on locally producing certain products in order to reduce imports and reduce the high demand for dollars.

El-Sisi said that Prime Minister Mostafa Madbouly drew up a plan to release raw materials for products that have been stuck in customs, including providing the letters of credit to access foreign currency within four days.

President El-Sisi further said that six factories producing about 700,000 tons of nitrogen fertilisers will be opened in Ain Sokhna during February and March.

The state is keen on stabilising the prices of agricultural inputs, said El-Sisi, adding that the price of fertilisers would increase if the price of gas goes up.

The state aims to keep prices at current levels, he affirmed.

The president urged unity in the face of price hikes to alleviate burdens on citizens.

Touring the new projects

Following their inauguration, El-Sisi toured the factories of medical and industrial gases, as well as a trigeneration plant, in the chemicals complex.

The complex is built on an area of 250 feddans and comprises five production sectors comprising 21 chemical factories, in addition to a number of administrative and services facilities.

The five production sectors are chlorine and sodium hydroxide, medical and industrial gases, agricultural pesticides, liquid and solid fertiliser, aerosol and home pesticides in addition to cleansers and sterilisation.

The inauguration of the two new factories brought the total number in the complex to 23.

El-Sisi was briefed by the manager of the factory on the production process, which depends on the availability of oxygen, nitrogen and argon.

El-Sisi also toured the energy trigeneration station where he listened to a detailed explanation of the station from Mohamed Medhat, the executive director of the energy business unit.

Medhat clarified that the main aim of the station is to increase the benefit from the natural gas via generating three kinds of energies at once through high efficiency generators.

The station has a total capacity of 27 MW, Medhat said.

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