Gov't Grants Golden Licence to 8 Projects

PM Mostafa Madbouly chaired on Sunday the meeting of the Supreme Committee concerned with examining the applications of investors wishing to obtain the "Golden License".

The Prime Minister said that the meeting comes within the framework of following up the implementation of the directives of President Abdel Fattah El-Sisi regarding expediting the issuance of a "Golden License" for projects, especially industrial ones, in light of the state's efforts to support this vital sector.

This committee is concerned with unifying and simplifying the procedures for obtaining a single approval (Golden License), and overcoming various obstacles facing investment projects required to obtain this approval.

The committee approved 8 investment projects that applied to obtain the license in preparation for presenting them to the cabinet at its next session, out of 12 projects that were reviewed during the meeting, in a number of different sectors.

The committee approved the granting of the license to the establishment of an industrial complex for electrical appliances for "Haier Electric Egypt", and the project to establish a plant for the production of feed, chemicals and plant nutrients to the "CFC Feed and Chemicals" company.

It was also granted to the establishment of a factory for the production and assembly of manufactured and semi-manufactured household, electrical and visual appliances and their components for the “El-Araby Group".

Also, the "Egypt Green Hydrogen Company" project licence was okayed to produce "green hydrogen" from a 100-megawatt production plant in the industrial zone in Ain Sukhna, affiliated to the Suez Canal Economic Zone, and the "Egypt Green Ammonia" with a capacity of 1 million tons / year in the industrial zone.

A project "Yazaki - Egypt for Electrical Distribution Systems" in the private free zones system, was also granted the licence for the manufacturing electrical distribution systems for vehicles of all kinds.

The projects also included the project of SA Wire Systems Egypt to manufacture electrical wiring systems for vehicles of all kinds, as well as the "Vaccines and Biotechnology City" project to manufacture, and package vaccines, human and veterinary serums of all kinds, biological preparations, diagnostics, and biotechnology.