UAE Industry Minister says current joint projects with Egypt 1st chapter of many to come

CAIRO- 20 November 2024: Egypt’s Prime Minister Mostafa Madbouly, met on Wednesday with UAE Minister of Industry and Technology Sultan Al Jaber, to discuss ways to enhance joint cooperation between Egypt and the UAE in various sectors.

The meeting was attended by Kamel El Wazir, Minister of Industry and Transport, Mahmoud Esmat, Minister of Electricity and Renewable Energy, Walid Gamal El Din, Chairman of the Suez Canal Economic Zone, and Bahaa El Ghannam, Executive Director of the Future of Egypt for Sustainable Development Agency.

From the Emirati side, attended the meeting, ambassador Mariam Al Kaabi, UAE Ambassador to Egypt, Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology in the UAE, and a number of officials.

During the meeting, Madbouly said that he ‘brings good news’. “We have witnessed today the signing of a number of agreements and memoranda of understanding that were previously discussed, and all these projects come within the framework of the priorities of the Egyptian state, in the industry and energy sector, which is a top priority for us.”

Madbouly also reiterated the depth of relations and ties between the two countries, as well as the leaderships and governments of the two countries.

For his part, the UAE minister Sultan Al Jaber started his speech by conveying the greetings of Sheikh Mohammed bin Zayed, President of the UAE, to the Prime Minister, ministers and officials.

He stressed that Egyptian officials have paid special attention to the Egyptian-UAE joint projects, and that he noticed great keenness, interest and close follow-up of all details.

He added that all of this indicates interest and work to achieve tangible and practical progress on the ground to implement the directives of the leaderships of the two countries.

The Minister of Industry and Advanced Technology in the UAE indicated that there are directives to expedite the implementation of these projects, and that “this is the first chapter of several projects that will be implemented between the two countries.”

Al Jaber added that there will be a monthly follow-up of the completion rates of these projects, and there will be a real evaluation of the work on these projects.

Egypt’s Prime Minister, witnessed on Wednesday the signing ceremony of a memorandum of understanding regarding the establishment of an energy storage battery factory, between the Egyptian Ministry of Industry and the Emirati companies: “Global South Utilities” and “Enercap”.

Madbouly also announced witnessing the signing ceremony of two agreements to implement two projects to produce electricity from solar energy (BOO system), with a total capacity of 1.2 gigawatts, as well as adding energy storage systems using battery technology with a total capacity of 720 megawatts, between the Ministry of Electricity and Renewable Energy and the alliance of companies (Emirati Masdar - Infinity - Hassan Allam) the founding shareholders of the project companies (Solar Base Oases for Renewable Energy LLC under establishment), and (Benban Solar for Renewable Energy LLC under establishment), in the presence of Mahmoud Esmat, Minister of Electricity and Renewable Energy,  Sultan Al Jaber, Minister of Industry and Advanced Technology in the United Arab Emirates, and Ambassador Mariam Al Kaabi, Ambassador of the United Arab Emirates to Egypt.

During a press conferenceaa, Madbouly announced a new project for electrical interconnection between Egypt and Italy after finishing the electrical interconnection projects with Saudi Arabia and Greece and said that production at the Zohr field is expected to return to what it was before the global crisis by mid-2025.