Arab Finance: The Cabinet has granted the golden license to three projects, established by private companies, Prime Minister Mostafa Madbouly announced during the Cabinet’s weekly meeting.

The first project is by Kingdom Linen Company. It will build and operate a linen spinning and textile factory on an area of approximately 51,900 square meters in Sadat City, Menoufia.

With an investment cost of approximately $58 million, the project is scheduled for completion on January 1^st, 2027. It will employ 500 workers.

The company aims to achieve a local component ratio of no less than 30% in its products within a maximum period of three years from the beginning of operations.

The factory will produce around 3,800 tons of linen annually in various grades, exporting inot less than 100% of ts output to the foreign market.

Kingdom Linen Group owns five linen spinning mills worldwide, serving customers in 27 countries. These mills provided 4,000 job opportunities, while the total global assets hit nearly $400 million.

Through its various branches, the group produces approximately 22,000 tons of wet-spun linen, accounting for a 15% share of the global linen market.

Moreover, Al Amir Group also obtained a golden license to establish a factory on an area of 37,660 square meters in the developers zone of Sadat City.

The venture will include a factory for preparing, packaging, and processing vegetables and fruits, another for producing and packaging tomato paste, and a third facility for drying and cooling produce.

It is expected to begin operating in October 2027 and will provide 400 new job opportunities.

The project aims to export more than 70% of its production, thereby reducing imports and localizing the industry. It will rely on 80%-90% of Egyptian agricultural products.

The project will also transfer modern and advanced technology and techniques from leading international companies in the food industry to Egypt.

Finally, Masdar IPH Wind Energy LLC secured a golden license for its 200 megawatt (MW) wind energy project, covering an area of 37.3 square kilometers in the Gulf of Suez region, Red Sea.

In line with the environmental sustainability goals, the project is developed to reduce greenhouse gas emissions and improve the climate. It will generate 200 megawatts of wind energy, expanding the national electricity grid by contributing to the provision of 175 million cubic meters of natural gas annually.

Expected to commence operating by the end of May 2027, the labor-intensive project will create 2,000 jobs during the construction and operation phases.

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