Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, held key discussions with major Italian companies during his visit to Italy, focusing on industrial localization and potential factory investments in Egypt. As part of his visit, Al-Wazir toured Rome Termini Railway Station to exchange expertise on high-speed train operations, an important precursor to Egypt's upcoming electric train service. The minister reviewed the station's commercial operations and later traveled on a high-speed train to Bologna Station, inspecting its facilities and connectivity to other major Italian cities via public transport. At the headquarters of Intesa Sanpaolo Bank in Milan, Al-Wazir met with representatives from seven prominent Italian companies, alongside the bank's chairperson, board members, and Egypt's Consul General in Milan, Manal Abdeldayem. The minister explored with Piaggio's CEO the possibility of reopening its factory in Egypt, aligning with Egypt's drive to localize industries and leverage its investment-friendly climate. Piaggio, known for its scooters, currently operates factories in India, China, and Indonesia. Ariston, a global leader in home appliances, was invited to expand its presence in Egypt. The company already operates three factories in Obour City, covering 220,000 sqm. The minister emphasized Egypt's position as a prime investment hub for global home appliance brands. Discussions with Hitachi's CEO focused on expanding its operations in Egypt, particularly in transport projects. The company has been instrumental in modernizing Egypt's transportation infrastructure, including the Alexandria Metro, the first metro line, and other railway projects. Al-Wazir engaged with Navigo, a luxury yacht manufacturer, on expanding yacht production in Egypt, leveraging the country's unique geography and appeal as a tourist destination. Navigo has already studied key ports, such as Sharm El-Sheikh, Hurghada, and the Suez Canal Economic Zone, for potential projects. The minister and IVECO's CEO discussed establishing a truck production facility in Egypt to manufacture light, medium, and heavy commercial vehicles. Iren SpA, a leader in renewable energy and biogas production, expressed interest in Egypt's renewable energy sector. The minister reaffirmed the government's commitment to solar, wind, and other sustainable energy sources, critical for reducing reliance on fossil fuels. Al-Wazir reviewed developments with Salcef Group regarding a potential partnership with ERTAC (a subsidiary of the Egyptian Railway Authority) to establish a local company for railway maintenance and renovation. The proposed company would oversee the renewal of 2,000 kilometers of railway lines and the construction of new lines. Salcef would provide machinery, equipment, and trains as part of the company's capital to expedite projects. Throughout these discussions, Minister Al-Wazir highlighted Egypt's strategic location, supportive investment policies, and burgeoning opportunities in diverse sectors such as industry, transport, and renewable energy. These engagements mark a significant step toward strengthening Egypt-Italy economic relations and advancing Egypt's industrial and infrastructural development goals.
