CAIRO- 20 November 2024: Egypt’s prime minister Mostafa Madbouly, said on Wednesday that the government is focusing on pushing the industrial sector, announcing that El Nasr Automotive Manufacturing Company has resumed its work, explaining that the Automotive Company is part of the Egyptian heritage.
The Prime Minister added in a press conference, that there is a great effort being made in the automotive manufacturing sector, stressing that Egypt aims at returning as a regional and international hub for the automotive industry.
He explained that Egypt's participation in the G20 summit is the fourth participation, which reflects the extent of Egypt's appreciation and position within international blocs.
Madbouly, said that the government seeks to convert 250,000 gasoline-powered cars to operate on natural gas, and incentives will soon be announced to encourage citizens to convert their cars from gasoline to operate on natural gas.
He also noted that directions have been issued to all authorities to start converting government cars to operate on natural gas.
Egypt’s Prime minister, said that Egypt's economy will be growing in 4 main sectors: "Agriculture - Industry - Tourism - Communications" during the coming period.
Madbouly announced a new project for electrical interconnection between Egypt and Italy after finishing the electrical interconnection projects with Saudi Arabia and Greece.
In his statements, Madbouly, said that production at the Zohr field is expected to return to what it was before the global crisis by mid-2025.
During the conference Madbouly, witnessed 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 witnessed 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.
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