Madbouly Conducts Inspection Tour Of Industrial, Technological Projects In Beni Suef

(MENAFN- Daily News Egypt) Prime Minister Mostafa Madbouly embarked on an inspection tour of various industrial and technological projects in Beni Suef. Upon arriving at the Kom Abu Radi industrial zone, the Prime Minister emphasized the current focus on industrial localization, agricultural area expansion, boosting foreign direct investments, and enhancing the private sector's role. The goal is to elevate its contribution to the national Economy to 65% within the next three years.

The tour began with an inspection of the Elaraby Group factories complex in the Kom Abu Radi industrial zone. Madbouly received a detailed briefing from Ibrahim Elaraby, Chairperson of the Group, regarding their strategy to enhance local manufacturing and forthcoming expansion plans in both the Beni Suef Industrial Zone and the Quesna Industrial Zone in Menoufeya.

Elaraby highlighted the Group's ambition to establish the largest industrial complex in the region, with investments totalling around $350m. This initiative aims to create 15,000 job opportunities, producing numerous products labelled“Made in Egypt,” thereby fostering competition in regional and global markets. The group is committed to expanding investment horizons within the industrial zone, increasing job prospects for Beni Suef residents, and advancing industry localization efforts to narrow the import deficit. These endeavours align closely with the objectives outlined in“Egypt Vision 2030,” reflecting a commitment to transformative progress.

Additionally, the Prime Minister inspected the Emisa Denim company's factory for manufacturing ready-made clothes in the Bayad Al-Arab Industrial Zone in Beni Suef Governorate. Chairman Anis Trabelsi explained that the factory, built on an area of 10,000 sqm, represents an investment of approximately €15m. The strategic location of Beni Suef Governorate was a key factor in choosing it as the factory's headquarters, contributing to development goals in Upper Egypt.

Furthermore, Madbouly visited Syrian KPI Pharma, examining production lines for pills, capsules, jars, and powder filling, as well as associated laboratories and storage facilities. Owned by Mohamed Marrawi, KPI Pharma is a Syrian investment being built on an area of about 10,000 sqm, with investments reaching $50m. It currently exports about 20%, with plans to increase production volume to 30% during the current year, relying on a 40% local component of raw materials.

Lastly, the Prime Minister inspected the Samsung Electronics factory complex in the Kom Abu Radi industrial zone in Beni Suef. Chairman John Soo Jung highlighted that this factory represents the company's inaugural venture in the Middle East and Africa, joining its network of 14 factories worldwide. Erected within a remarkable span of 10 months, the factory has swiftly evolved into a fully integrated complex. Jung recounted Samsung's trajectory in Egypt since 2013, its progression into production, and the commencement of exports from Egypt. The strategic significance of the factory's location in Beni Suef further underscores its importance.


Daily News Egypt

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