Arab Finance: The Egyptian Cabinet has approved a draft presidential decree to establish a 63.5-kilometer railway line connecting Roubiki, Tenth of Ramadan, and Belbeis, as per a statement on October 2nd.

The project, in collaboration with the French Development Agency (AFD), aims to improve the efficiency of freight transport, reduce road congestion, and boost local industry.

The railway line will initially be non-electric, with a single track between Roubiki and the Tenth of Ramadan.

There are plans to expand it to a double track if needed, with a double track already planned between the Tenth of Ramadan and Belbeis.

By facilitating the movement of goods from dry ports to seaports, the railway line is expected to lower transportation costs and enhance the competitiveness of local producers, creating new job opportunities and contributing to economic growth.

Also, the cabinet approved the establishment of a special free zone for the Kingdom Linen Company in Sadat City, Menoufia Governorate.

The company, which specializes in linen, spinning, and weaving, will operate on a 52,000-square-meter plot, with investment costs reaching $60 million.

The factory is expected to create over 500 job opportunities, and it plans to export 100% of its annual production.

Additionally, at least 30% of the factory’s production will rely on locally sourced materials.

The factory is set to become one of the largest producers of linen and weaving products in the region, using the latest technologies to ensure product quality that meets international standards.

The Cabinet also granted the golden license to the Egyptian Minerals and Salts Company (EMISAL) in Fayoum for its project to establish a factory producing potassium sulfate fertilizer.

The factory will be located in Shakshouk village in Fayoum Governorate, covering an area of 5,600 square meters.

With an investment of over EGP 600 million, the project will provide 100 job opportunities.

It also aims to introduce advanced manufacturing technologies to reduce environmental impacts, including efforts to address the rising salinity in Lake Qarun, which poses a threat to the local ecosystem.