El-Khatib grants 6 golden licenses for strategic investment projects

Updated 5/12/2025 2:46:00 PM

Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib handed over six new gold licenses to several strategic investment projects, according to a statement.

Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), participated in the ceremony, which aligns with the state's efforts to provide further incentives to investors and attract more local and foreign investment.

The COFICAB Egypt project for manufacturing electrical wires received a golden license. The project is located on an area of 30,296 square meters in the 10th of Ramadan Industrial Zone, with an investment cost of $40 million, creating around 267 job opportunities.

El-Khatib also gave a golden license for the Abydos Renewable Energy project, located on an area of 20 square kilometers in Aswan, with investments of $850 million. It secures 4,000 jobs.

Furthermore, Lesaffre Company’s project in Egypt for yeast production also received a golden license. The project is expected to create 130 job opportunities. It spans 43,755 square meters, with a total investment of €120 million.

The Huhtamaki Egypt, a company for the production and distribution of coarse and fine fiber, also secured a golden license for its project in Sadat City. Located on an area of 21,734 square meters, the project has an investment cost of EGP 1.47 billion and provides about 61 job opportunities.

The Shen Feng project for the manufacture of cast iron also got a license. With an investment of $145 million, the project is located on an area of 270,000 square meters in Ain Sokhna and creates about 700 jobs.

Finally, the Yada Egypt project for furniture manufacturing got a golden license. Located on an area of 208,003 square meters in New Alamein City, the project has an investment cost of €70 million. It provides 6,350 direct and indirect job opportunities.