Minister of Military Production Mohamed Al-Assar said he expects the final contracts for the establishment of an integrated industrial complex for the production of solar panels, with China’s GCL Power, to take place within two months.
Al-Assar told Daily News Egypt that the Chinese group will begin the implementation of the complex after signing the contracts. The total capacity of the project will reach 5 GW per year, with investments of about $2bn, coming from Chinese banks.
He added that more than 200 Egyptian companies submitted requests to participate in the local part of the Dabaa nuclear plant project, noting that the application period is still open.
Al-Assar highlighted that negotiations with Emirati, Omani, Japanese, and American companies resulted in the plan to launch five projects for the establishment of factories for elevators and escalators, a complex for household appliances, and a factory for mining equipment, along with a factory for polyethylene pipes and rubber industries.
Moreover, he said that the factories and companies of the Ministry of Military Production do not compete with the private sector, but rather work in partnership with it, as 80% of the ministry’s contracts are implemented in cooperation with the private sector.
He explained that the ministry is negotiating the implementation of 41 projects in partnership with private investors, after coordinating with the Federation of Egyptian Industries. Among these projects, he explained, are a major oncology medicine plant, a smart metre production project, solar desalination plants, rubber industries, air conditioners, and electric cars factories.
Al-Assar said that the improvement of the investment climate and the state’s development plan, which includes the establishment of new cities and factories, are all in favour of stimulating business mainly for the private sector, in addition to the expansion of the Egyptian market and the opening of export prospects.