Arab Finance: The General Authority for Investment and Free Zones (GAFI) has granted new Golden Licenses to six companies, bringing the total number of projects that secured the license to 29, as per a statement on March 26th.

The total cost of the six projects reached EGP 5.6 billion.

The National Egyptian Railway Industries Company (NERIC) will establish and operate a factory for railway, metro, and high-speed train supplies and their components. The factory will be established in the Suez Canal Economic Zone (SCZone) at an investment cost of EGP 3.6 billion.

Also, EnviroProcess will produce alternative fuels, carbon granules, and fibers from waste, at an investment cost of EGP 74 million in the industrial zone in Wadi Al-Sarayya in Minya.

Meanwhile, Hassan Allam Utilities will establish, manage, operate, and maintain a strategic warehouse in Luxor at an investment cost of EGP 1.5 billion.

Nilus Residential Services and Nilus Hotel and Commercial Services will establish a huge residential and entertainment project on the Nile Corniche, consisting of two towers, one of which includes residential units and the other of which includes hotel, commercial and administrative units, at an investment cost of EGP 463.5 million.

Furthermore, ICE LINX will establish a food factory at an investment cost of EGP 134.6 million in the Fifth Industrial Zone in Burj Al Arab.