The Egyptian Cabinet, chaired by Prime Minister Mostafa Madbouly, approved a package of major decisions during its 71st meeting, underscoring efforts to localise industry, attract foreign investment, expand clean energy, and support regional development. Chief among the approvals was the granting of Golden Licenses to two strategic projects worth a combined EGP 15.1bn. The first was awarded to MAC for Light Transport Manufacturing to establish an integrated automotive complex in New October City, adjacent to the 6th of October Dry Port. The EGP 6.3bn project will encompass the production and assembly of passenger cars, light and medium transport vehicles, buses, components, spare parts, tyres, and painting facilities. The project is expected to generate around 1,000 jobs, achieve a local component share starting at 42%, export at least half of its output, and commence operations by early 2027—supporting the state's drive to localise automotive manufacturing and advance electric mobility. A second Golden License was granted to Deli Egypt for Industry to establish a factory for office supplies, school tools and children's sports products in 10th of Ramadan City. Valued at EGP 8.8bn, the facility marks the global Deli Group's first investment in Egypt and is projected to create 2,200 jobs. The project is expected to source more than 50% of its inputs locally and export at least 50% of production, with completion slated for February 2027. In the energy sector, the Cabinet approved a draft presidential decree for a new petroleum exploration and production agreement in the Integrated Badr El-Din area in the Western Desert, with minimum investments of $208 million. Plans include drilling 44 wells and targeting monthly output of 105,000 barrels of oil and 1.2bn cubic feet of gas—reducing Egypt's import bill by an estimated $25m per month. The Cabinet also endorsed a $10m grant from the Abu Dhabi Fund for Development to finance projects in Sohag, and a $4.3m grant from South Korea to support green-energy infrastructure in the Suez Canal—covering LNG bunkering and training facilities—aligned with efforts to develop a sustainable canal corridor by 2030. Additional approvals covered Egypt's hosting of the 24th Conference of the Parties to the Barcelona Convention, accession to the D-8 Preferential Trade Agreement, land allocation in Sadat City for logistics development, authorisation of commemorative gold and silver coins marking 150 years of the State Lawsuits Authority, and updated compensation rates for public contracts. The Cabinet also agreed to allocate approximately 5,837 feddans in Qena for the construction of a 1-gigawatt solar power plant with battery storage—reinforcing Egypt's renewable-energy expansion and long-term sustainability targets.
