German Belchem, a global leader in fire-resistant fiber production, has revealed plans to establish an integrated factory in Egypt with an initial investment of €30 million. The proposed facility, spanning 100,000 square meters, will focus on producing fire-resistant industrial fibers essential for key sectors such as automotive and aviation.
A delegation from Belchem is set to visit Egypt to advance the project.
This announcement was made during a meeting between Egypt's Minister of Investment and Foreign Trade, Hassan El-Khatib, and representatives from German companies specializing in fiber production and bicycle manufacturing.
The discussions highlighted Egypt's ongoing commitment to creating a competitive business environment and supporting German investors.
In a related development, one of Europe’s top bicycle manufacturers is exploring the possibility of establishing a production facility in Egypt to manufacture carbon-reinforced plastic parts, such as handlebars and wheel rims, for export to Europe.
The project aims for an annual production of 300,000 components, with an expected export value of €10 million and an initial investment of more than €5 million. The company, Cube, is also considering the feasibility of setting up a full-scale bicycle production plant in Egypt.
German business interest in Egypt is growing, particularly in sectors such as infrastructure, renewable energy, and information and communications technology (ICT). The meetings also underscored the importance of enhancing economic relations between Egypt and Germany.
Minister El-Khatib further met with German Deputy Chancellor and Minister of Economy and Climate Protection, Robert Habeck, to discuss strengthening trade and economic ties. Both parties agreed to hold the Joint Economic Committee sessions in Cairo on February 18-19, with a delegation of German business leaders participating.
The sessions will focus on advancing bilateral economic relations and establishing a clear roadmap for future investments.
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