Egypt's Cabinet, led by Prime Minister Mostafa Madbouly, convened at the New Administrative Capital and approved several key resolutions today, including:
Golden License for Gas Expansion: The Egyptian Natural Gas Company, Jasco, has been granted a Golden License for its project to increase the capacity of the Western Desert Gas Complex with a fourth production line, designed to produce 600 million cubic feet per day.
This expansion will span about 33 acres within the Renaissance Industrial Zone in Al-Amiriya, Alexandria Governorate.
The project, estimated at around $380 million, is expected to create employment opportunities for about 2,500 local workers.
It aims to boost the production of natural gas derivatives while providing essential raw materials for petrochemical factories. Additionally, it will supply LPG (butane gas) and condensates to meet the local market's demands for these products.
Electric Vehicle Manufacturing: Egypt's next strategic move involves "Egypt Sat Auto," a company that will establish and operate a factory for manufacturing passenger cars, electric buses, electric vehicle charging stations, electric scooters, electric tricycles, electric vehicle components, and spare parts.
This ambitious project will occupy an area of approximately 50,000 square meters within the industrial zone of the Tenth of Ramadan City, Sharqia Governorate.
The investment is estimated at around EGP 300 million.
The project, expected to provide 500 job opportunities, aims to complete the manufacturing of electric cars by the end of 2024.
It seeks to reduce imports, promote local industry, enhance domestic components, transfer and localize modern technology in the field of electric vehicle manufacturing, and consequently, mitigate environmental impact and emissions.
These decisions demonstrate Egypt's commitment to economic growth, job creation, and sustainable industrial development, aligning with global trends in renewable energy and green transportation.
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