The government grants "Golden licence" For automobile and office supplies projects worth 15 billion pounds
Dr. Mostafa Madbouly, Prime Minister, chaired the Council’s regular meeting today, which resulted in a package of strategic decisions aimed at advancing the national economy, localizing heavy industries, enhancing the green energy infrastructure, as well as supporting community development in Upper Egypt.
The localization of the automobile and feeding industries
At the forefront of the decisions, the Council of Ministers granted the "golden licence" For “MAC Light Transportation Manufacturing” Company To establish a huge industrial complex in New October City on an area of 30 acres. With investments amounting to 6.3 billion pounds, the project aims to produce and assemble various types of cars and buses of all capacities, in addition to producing tires and interior entertainment systems. The project sets its sights on producing 50,000 vehicles within 5 years with a local component starting at 42%, while providing about 1,000 job opportunities and exporting half of the production abroad to support foreign exchange.
Chinese launch in 10th of Ramadan City
At the level of cultural and technological industries, the Council agreed to grant the "golden licence" “Daily Egypt for Industry” company To establish its first factory in Egypt in 10th of Ramadan City at an investment cost of 8.8 billion pounds. The project is a regional center for the production of office, school and sports equipment, and is expected to provide 2,200 job opportunities, with a target of exporting 50% of the production to enhance the competitiveness of the Egyptian product globally.
Securing energy and increasing petroleum production
In the energy sector, the government approved a commitment agreement to search for and develop oil in the “Badr al-Din” region. In Western Sahara, with a minimum investment of $208 million. The agreement aims to drill 44 wells to achieve monthly savings in the import bill worth $25 million, which will support the trade balance and enhance national reserves.
Green energy and environmental leadership
To enhance the status of the Suez Canal as a green waterway, the Council approved a South Korean grant to establish infrastructure to supply ships with liquefied natural gas, with the aim of reaching carbon neutrality by 2030. The Council also approved Egypt’s hosting of the twenty-fourth conference of the Barcelona Convention for the Protection of the Mediterranean Marine Environment, which reflects Cairo’s leadership role in environmental files. International.
Development of Upper Egypt and Renewable Energy
Community development was not absent from the meeting table, as a grant worth $10 million was approved from the “Abu Dhabi Fund for Development” To implement service projects in Sohag Governorate, including building schools, mosques, and community markets. In a related context, more than 5,800 acres in Nag Hammadi were allocated to the New and Renewable Energy Authority to establish a giant solar power station with a capacity of 1 gigawatt, equipped with modern storage batteries.
Humanitarian and commemorative decisions
The Council concluded its meeting by approving the draft decision of the President of the Republic to pardon the remainder of the sentence of some convicts on the occasion of Police Day 2026. It also authorized the Ministry of Finance to issue commemorative gold and silver coins on the occasion of the 150th anniversary of the establishment of the State Litigation Authority, in recognition of its long history in preserving rights and money. General.
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