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EGP 1bn factory part of AOI strategy implementing Egypt’s plan for local industrialisation, technology localisation and reducing imports
The factory, which produces 35% of the group’s sanitary wares products, was forced to close in mid-April due to some of its workers testing positive for the coronavirus (COVID-19).
The sharp decline has been attributed to the worldwide decrease in global demand and the halting of many economic activities due to the ongoing coronavirus (COVID-19) pandemic.
Nestlé Egypt continues to apply strict precautionary measures to guarantee the quality of all its products and ensure the safety of its employees, products, partners and the communities in which it operates.
The company confirmed with the Ministry of Health that two workers at its Borg El-Arab factory in Alexandria, which produces 35% of the group’s sanitary wares products, had tested positive for Covid-19.
Accordingly, businesspeople are being asked to bear the costs of accommodating workers for a period of 14 days, equal to the period of quarantine. During this time, workers will double their work shifts to increase production.
Factory on an area of 10,000 sqm in partnership with Jordanian company: Fathy
Company targets 40,000 tonnes of exports this year, Abdel Wahab says
The Ministry Public Enterprises Sector is trying to revive El Nasr Automotive and has recently cooperated with the Ministry of Trade and Industry to reach an agreement with an international company to bring back the state-owned automobile company.
Company plans to build grains terminal in Damietta, says Salem
The company has completed all technical and feasibility studies of the project and is considering to start take the required procedures, a source at Al Romaizan said.
Factory’s production capacity to reach 1m FIFA certified balls during its first year, says Al-Assiouty
Entity seeks to provide products suitable for specialists, professionals in food production marketing
I have agreed with minister of planning to put some of ministry’s assets in Egypt’s sovereign wealth fund, through two sub-funds dedicated for hotel management, real estate development
MNB Company plans to invest EGP 240m to launch a new pharmaceutical factory which will include several production lines in Borg El Arab in Egypt, according to Mohamed Bazazo, head of the company. Bazazo said that the inauguration of the first phase of the factory will take place in 2021 as it will increase the …
UAE investors contribute to 70% of project’s capital, worth EGP 5.4bn, Al Ahly Capital contributes to 30%
US, European markets have most demand for organic products, with China, India as main competitors
The factory’s first phase will produce 20m shoes annually, with EGP 1bn investments, says Qesses
Company seeks to lead cosmetics sector in Egypt
The African Export-Import Bank (Afreximbank) is providing $150m for Egyptian factoring companies within 5 years, according to the Managing Director of Intra-African Trade Initiative of Afreximbank Kanayo Awani. Awani told Daily News Egypt that the funding began this year and will end in 2021. Awani noted that the bank is very interested in the file …
Industry Ministry imposes anti-dumping duties on imports from 3 countries for 5 years
Ahmed Bahaa, managing director of MB for Engineering and Contracting (MBEN), and member of the Egyptian Exchange’s board, revealed that setting up the company’s recently opened factory in Sixth of October city is expected to lead to a hike in profits throughout the fourth quarter (Q4) of 2017. “The company’s financials in terms of revenues …
Workers demand the newly issued 10% bounce as well as late payments
Company negotiates with banks to borrow EGP 36m to finance 30% of the project
The factory’s capacity is 120,000 shoes per month, we aim to export, says El Gohary
Shareholders paid EGP 300m for issued capital, says Soltan
We are negotiating with the NBE to borrow EGP 3m, says managing director
The production of the first Egyptian cell phone expected next September, says Hosni
New investments are subject to exchange rate stabilisation, says Adly
Negotiations are ongoing for buying 2,000 acres of maize and soybean crops