Skip to content Skip to Search
Skip navigation

Egyptian-Kuwaiti venture powers up new investments

Egypt Kuwait Holding has finalised investment of $120m in a new MDF manufacturing facility in Egypt Szabo
Egypt Kuwait Holding has finalised investment of $120m in a new MDF manufacturing facility in Egypt

Investment company Egypt-Kuwait Holding is exploring new investment opportunities in Egypt.

The company has finalised investment of $120 million in a new medium-density fibreboard (MDF) manufacturing facility and plans to expand into the power sector.

“Our investments in Egypt are ongoing, and we are exploring more opportunities through visiting several ministries and presenting our proposals,” Daily News Egypt reported, citing chairman Loay Jassim Al-Kharafi during a meeting with Prime Minister Mostafa Madbouly.

No other details of the MDF factory were given.

The company, which is listed on the Egyptian and Kuwaiti stock exchanges, intends to participate in government initial public offering (IPO) programmes and implement electricity distribution stations under a build-operate-transfer system.

Osama El Gohary, Egypt’s assistant prime minister, said last June that the country intends to divest its stakes in 250 companies under its privatisation programme.

Al-Kharafi said Egypt Kuwait Holding has already secured the right to build a station in the Tenth of Ramadan city and intend to expand investments in the power sector.

He said the company plans to complete a hotel project in El-Arish by “overcoming challenges”. No other information was given.

Egypt-Kuwait Holding is ready to inject more investment into the major tourist project with plans to expand the number of hotel rooms from 120 to 400, the chairman said.

Latest articles

A square in Cairo

‘Worst is behind us’ in Egypt’s black market dollar war says BMI

The Egyptian government’s priority for 2024 should be to keep the gap between the official and parallel exchange rates for Egypt’s pound and the US dollar as narrow as possible, says BMI Research. In a webinar on Tuesday BMI, a Fitch Group firm specialised in country risk, said that “the worst is behind us” in […]

Oman UAE deals Sultan of Oman president of UAE

Oman and UAE sign deals worth $35bn

The UAE and Oman have announced a host of new commercial and business deals worth a total of AED129 billion ($35 billion). The partnerships were agreed during Monday’s state visit to the Emirates by the ruler of Oman, Sultan Haitham bin Tariq al Said.  Investment and collaboration agreements covered areas including renewable energy, green metals, […]

A silver trader in his shop in Ahmedabad, India. India is sourcing an increasing amount of its silver from the UAE

India’s silver imports from UAE on the rise

Supplies of silver to India from the UAE have increased this year, as the Emirates’ exporters benefit from an agreement signed between the countries two years ago. The India-UAE comprehensive economic partnership agreement signed in 2022 has significantly boosted imports, according to a report by Indian English-language business newspaper The Financial Express.  The UAE route […]

A worker at Al Faw Grand Port. The Development Road project aims to connect the port with Turkey

Gulf to collaborate on $17bn Suez Canal road and rail rival

The $17 billion “Development Road” project is moving ahead after the UAE, Iraq, Qatar and Turkey signed a quadrilateral cooperation agreement.  The road and rail collaboration aims to tie the Al-Faw Grand Port in Iraq’s oil-rich south to Turkey, thereby shortening travel time between Asia and Europe in a bid to rival the Suez Canal. […]