(MENAFN- Daily News Egypt) Minister of investment and Foreign Trade, Hassan El-Khatib, has conducted an inspection tour of the Alexandria Free Zone, where he reviewed the new eco-friendly expansions of several ongoing projects.
El-Khatib stated that the Ministry will facilitate the transition to clean energy in the coming phase by offering special incentives for the establishment and expansion of eco-friendly activities. Additionally, the ministry plans to launch initiatives to cover the rooftops of free zone facilities with solar panels, targeting rapid and sustainable growth in export-oriented investments.
He highlighted the diverse mechanisms used by factories in the area to reduce carbon emissions and decrease resource depletion rates, including the switch to solar energy, recycling of metals and water, and the use of modern technologies to reduce waste and double production with the same resources.
The Minister began his tour with a visit to Lord International's factories, which fully recycle the water and metals used in their manufacturing processes. The company has switched to hydrogen instead of ammonia in the production stages of razors and shaving machines, with technical support from the European Bank for Reconstruction and Development. The company has also started relying on solar energy to generate part of the energy required for manufacturing.
Lord International is set to launch the world's first fully recyclable razor in the last quarter of 2024, to be released simultaneously in local and international markets. Additionally, the company will introduce men's hygiene and grooming products to replace some imports, leveraging Egypt's competitive production advantages.
Currently, the company is adding two production lines with a capacity of 2.4 million durable razors per month. The investment cost for these production lines is €15 million. The company's current production capacity is 5.5 billion razor blades and 1 billion razors annually, providing around 3,200 job opportunities and exporting to 80 countries worldwide.
The Minister also inspected the expansions of Alex Apparel, Egypt's largest exporter of ready-made garments to the United States for 17 consecutive years. The company has added significant production space in recent years, bringing the total factory area to 120,000 square meters. The company adheres to the highest standards of sustainability and quality, including green building standards, energy efficiency, environmentally friendly architectural design, resource efficiency, waste management, building vitality, human comfort, and water efficiency. Additionally, the company supports initiatives to train housewives in handicrafts, recognizing the private sector's role in empowering women economically and socially.
Alex Apparel plans to open two new ready-made garment factories in the Alexandria General Free Zone shortly, with production set to begin in 2025. The company is also establishing another textile and dyeing factory with an investment of $100 million and a production capacity of 70 tons per day, with the first products expected to hit the market in 2026.
Minister El-Khatib also toured Linen Group, where he inspected the company's textile, tailoring, and finishing factories, which span 70,000 square meters and produce 130,000 meters of fabric per day. In recent years, the company has adopted modern technologies and imported new production lines that rely on robotics, doubling production with the same resources and costs. This has enabled the company to maintain its position as Egypt's largest exporter of home textiles to European markets, competing with major international producers.
Lastly, El-Khatib inspected the expansions of the Egyptian-German Porcelain Company. The company invested EGP 500m to establish four new kilns using modern technologies and robotics, bringing its total investments in the Egyptian market to EGP 6bn. These new investments will create 750 job opportunities in 2024, in addition to the 4,000 direct jobs currently provided by the company, maintaining its position as the largest porcelain producer in the Middle East.
The Minister emphasized his support for the company to double its export value of $20m and its role in providing high-quality local products to reduce the need for imports. He noted that the building materials sector possesses a high competitive advantage that can be developed through the combined efforts of the government and the private sector.
Alexandria Free Zone includes 417 projects spread over an area of 1,353 feddan, making it the largest free zone in Egypt and the most significant contributor to export activities.
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