CAIRO - 7 November 2024: The Egyptian cabinet has approved a presidential decree to formalize a $7.1 million grant agreement with the Canadian government for the Egypt Green Skills for the Climate-smart Agribusiness Network Program (EGYCAN).
This program is designed to boost employment opportunities within the agribusiness sector by advancing climate-smart methods and improving industry-specific skills in Beheira, Gharbiya, and Menoufia.
The project, set to span five years, aims to directly benefit over 24,000 students.
In its latest session, the cabinet also sanctioned the issuance of a golden license to MAFI Agricultural Produce Industries for its agri-food industrial initiative in Sadat City.
With investments exceeding $180 million, the project is expected to commence operations by March 2026.
The initial phase is projected to yield $200 million annually in agri-food products, with the second phase expected to double this output. All production will be allocated for export.
The cabinet has further approved a golden license for the Tunisian company Coficab to build an $88 million automotive cable and electrical manufacturing facility in Tenth of Ramadan City.
The factory, covering around 30,000 sqm within the industrial zone, is scheduled for completion by June 2025 and is anticipated to create 267 jobs.
The plant plans to use 60 percent locally-sourced materials and will focus exclusively on exports to markets such as Tunisia, the UAE, Turkey, and Eastern Europe.
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