China's Xinxing invests $150m in ductile iron pipe plant in Egypt
During his visit, Ismail inspected all stages of the manufacturing process—from the assembly of local components and smelting, to centrifugal casting, protective coating application, and final product testing. He was briefed by Xinxing officials on the company's global experience in large-scale infrastructure projects and its interest in partnering with Egyptian firms and entities affiliated with the Ministry of Housing.
The Deputy Minister emphasized the strategic significance of the Xinxing plant, which aims to localize the production of ductile iron pipes—critical components in major national infrastructure and utility projects. By producing locally, the plant will help reduce reliance on imports, lower procurement costs, and support exports to African and Gulf markets.
Xinxing representatives noted that the facility, located within the 'TEDA–Egypt' industrial zone in the Suez Canal Economic Zone, spans an area of 270,500 square meters. The total investment in the project stands at approximately $150m.
The plant is expected to create 700 direct jobs and an additional 220 indirect employment opportunities. It boasts an annual production capacity of 250,000 tonnes of ductile iron pipes, with diameters of up to 2,600 mm, tailored to the specifications of various national projects.
Ismail reaffirmed the Ministry's full support for the initiative, in line with Egypt's broader national strategy to expand domestic manufacturing capabilities and open new export markets across Africa and the Arabian Gulf. He also underscored the importance of competitive pricing and the prioritization of local content in procurement by government-affiliated bodies.
'These serious investments reflect the confidence of international companies in Egypt's industrial potential,' he said, expressing optimism about further opportunities for industrial cooperation across Egypt's 27 governorates and 44 new cities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al-Ahram Weekly
29 minutes ago
- Al-Ahram Weekly
Egyptian Beltone Holding establishes AI subsidiary Robin - Tech
Egyptian financial services firm Beltone Holding has launched Robin, a wholly owned subsidiary dedicated to artificial intelligence and data science solutions across the Middle East and North Africa. The initiative underscores the region's accelerating demand for advanced AI capabilities and robust data infrastructure, signalling significant career opportunities for technology professionals and AI talent. Robin, headquartered in Cairo, is positioned to serve as a regional hub for intelligent data solutions. Its mandate is to transform complex, unstructured data into actionable insights designed to drive business growth and operational resilience. Robin's services cater to a broad client base, ranging from large corporations to emerging start-ups, directly addressing the region's persistent challenge of effective data utilisation. 'Robin was founded on the belief that data is not merely a support tool, but the essential foundation for impactful business growth,' stated Basma Rady, Chief Data Scientist at Beltone Holding and Managing Director of Robin. 'Our focus prioritises the human element behind innovation. We have assembled a multidisciplinary team with deep technical expertise, enabling us to engineer advanced, cross-sector solutions that are both practical and impactful.' The subsidiary offers a comprehensive service portfolio, guiding clients through all stages of their data journey—from initial data preparation to full-scale AI implementation—effectively turning raw data into strategic assets. Robin also specialises in developing customised intelligent systems that integrate seamlessly into existing operations, enhancing performance and precision. These systems include proprietary tools such as real-time monitoring dashboards, predictive analytics models, and sector-specific reporting solutions. In parallel, Robin is investing in upskilling talent for the AI era through targeted literacy programmes, workshops, and hands-on training. These initiatives are designed to empower both technical teams and executives, ensuring organisations are equipped to navigate the evolving AI landscape with confidence. Robin is currently active in several key sectors, including financial services, insurance, real estate, e-commerce, hospitality, and logistics, with promising applications also identified in healthcare, manufacturing, and public policy. The firm maintains stringent data security protocols, ensuring that client data remains either on-premises or within secure, segregated infrastructure environments and is accessed strictly on a 'need-to-know' basis. This launch coincides with a pivotal moment in Egypt's digital transformation. In January, the government unveiled the second edition of its National AI Strategy (2025–2030)—an ambitious roadmap aimed at accelerating the 'Digital Egypt' initiative and positioning the country as a regional leader in artificial intelligence. The strategy, built on six core pillars and 21 strategic initiatives, prioritises the expansion of computational infrastructure, the enhancement of data governance to balance privacy with private sector access, and the significant development of AI competencies and digital skills. Among the strategy's key targets are the cultivation of 30,000 AI specialists, the establishment of 250 successful AI companies, and the publication of 6,000 academic papers annually by 2030. For technology professionals and AI talent, Robin's emergence—aligned with Egypt's national strategy—heralds a robust and expanding job market. The AI Talent Readiness Index for Africa 2025 ranked Egypt, alongside Tunisia, as the second-best prepared country on the continent for AI talent, reflecting significant national investments in education and digital capacity-building. While competition is intensifying, particularly for roles involving AI, machine learning, and data analysis, this growth is also fostering more competitive compensation packages designed to attract top talent. Demand for Python programmers, AI agents, and foundational software development expertise remains high, with AI and data science roles accounting for approximately nine per cent of Egypt's job market as of June 2025. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
2 hours ago
- Al-Ahram Weekly
BRICS nations voice 'serious concerns' over Trump tariffs - International
BRICS leaders meeting in Rio de Janeiro on Sunday are expected to decry US President Donald Trump's "indiscriminate" trade tariffs, saying they are illegal and risk hurting the global economy. Emerging nations, which represent about half the world's population and 40 percent of global economic output, have united over "serious concerns" about US import tariffs, according to a draft summit statement obtained by AFP on Saturday. Since coming to office in January, Trump has threatened allies and rivals alike with a slew of punitive duties. His latest salvo comes in the form of letters informing trading partners of new tariff rates that will soon enter into force. The draft summit declaration does not mention the United States or its president by name, and could yet be amended by leaders gathering for talks Sunday and Monday. But it is a clear political shot directed at Washington from 11 emerging nations, including Brazil, Russia, India, China and South Africa. "We voice serious concerns about the rise of unilateral tariff and non-tariff measures which distort trade and are inconsistent with WTO (World Trade Organization) rules," the draft text says. It warns that such measures "threaten to further reduce global trade" and are "affecting the prospects for global economic development." Xi no show Conceived two decades ago as a forum for fast-growing economies, the BRICS have come to be seen as a Chinese-driven counterbalance to Western power. But the summit's political punch will be depleted by the absence of China's Xi Jinping, who is skipping the annual meeting for the first time in his 12 years as president. That absence has prompted fevered speculation in some quarters. "The simplest explanation may hold the most explanatory power. Xi recently hosted Lula in Beijing," said Ryan Hass, a former China director at the US National Security Council who is now with the Brookings Institution think tank. The Chinese leader will not be the only notable absentee. War crime-indicted Russian President Vladimir Putin is also opting to stay away, but will participate via video link, according to the Kremlin. Hass said Putin's non-attendance and the fact that Indian Prime Minister Narendra Modi will be a guest of honor in Brazil could also be factors in Xi's absence. "Xi does not want to appear upstaged by Modi," who will receive a state lunch, he said. "I expect Xi's decision to delegate attendance to Premier Li (Qiang) rests amidst these factors." Still, the Xi no-show is a blow to host President Luiz Inacio Lula da Silva, who wants Brazil to play a bigger role on the world stage. In the year to November 2025, Brazil will have hosted a G20 summit, a BRICS summit, and COP30 international climate talks, all before heading into fiercely contested presidential elections next year, in which he is expected to run. Lula warmly welcomed leaders and dignitaries on Saturday, including China's Premier Li Qiang, as the leftist president hosted a pre-summit business forum in Rio. "Faced with the resurgence of protectionism, it is up to emerging countries to defend the multilateral trade regime and reform the international financial architecture," Lula told the event. Iran's President Masoud Pezeshkian, whose nation is still reeling from a 12-day conflict with Israel, is also skipping the meeting and will be represented by Foreign Minister Abbas Araghchi. A source familiar with the negotiations said Iran had sought a tougher condemnation of Israel and the United States over their recent bombing of Iranian military, nuclear and other sites. But one diplomatic source said the text would give the "same message" that BRICS delivered last month. Then Iran's allies expressed "grave concern" about strikes against Iran, but did not explicitly mention Israel or the United States. Artificial intelligence and health will also be on the agenda at the summit. Original members of the bloc Brazil, Russia, India, and China have been joined by South Africa and, more recently, Saudi Arabia, Iran, the United Arab Emirates, Egypt, Ethiopia and Indonesia. Follow us on: Facebook Instagram Whatsapp Short link:
Al-Ahram Weekly
3 hours ago
- Al-Ahram Weekly
Egypt, Saudi FMs discuss Cairo conference on Gaza reconstruction amid ceasefire push - Foreign Affairs
Egyptian Foreign Minister Badr Abdelatty and his Saudi counterpart, Prince Faisal bin Farhan, discussed preparations for Egypt's upcoming international conference on the Gaza Strip's early recovery and reconstruction, which Cairo will host in coordination with the United Nations (UN) and the Palestinian Authority (PA) once a ceasefire is reached. The Cairo conference, delayed since March, aims to implement the Arab–Islamic plan for Gaza's post-war recovery. Egypt postponed the conference after Israel unilaterally ended the 19 January ceasefire with Hamas—brokered by Egypt, Qatar, and the US—on 18 March. Over 57,000 Palestinians have been killed in Gaza since Israel launched its war on the Strip in October 2023, according to the Gaza Health Ministry. Abdelatty and Prince Faisal held a phone call on Saturday evening, during which the Egyptian minister briefed his counterpart on ongoing diplomatic efforts to secure a ceasefire and ensure the unimpeded flow of humanitarian aid into the besieged territory. The call came as Israel prepared to send a delegation to Qatar on Sunday for indirect talks with Hamas, two days after the group said it was ready 'to engage immediately and seriously' in negotiations following consultations with other Palestinian factions. The Israeli visit to Doha precedes Prime Minister Benjamin Netanyahu's planned meeting with US President Donald Trump in Washington on Monday to discuss a potential deal. On Friday evening, Trump said there 'could be a Gaza deal next week,' following Hamas' positive response to the proposed truce framework. The $53 billion Arab-Islamic reconstruction plan — endorsed at the Cairo Extraordinary Arab Summit on 4 March and backed by the Organisation of Islamic Cooperation (OIC), the European Union (EU), China, and Russia — is framed as a regional alternative to Trump's so-called 'Riviera of the Middle East' plan, which critics say risks displacing Palestinians under the guise of economic development. In recent televised remarks, Abdelatty said Egypt, in coordination with the UN and the World Bank, had completed preparations for the two-day Cairo conference, including its agenda, expected outcomes, and logistical framework. He added that the conference will include four workshops focused on early recovery, private sector involvement, security arrangements, and post-war governance in Gaza. The discussion follows the postponement of a separate UN-backed conference on a two-state solution, co-chaired by Saudi Arabia and France and initially scheduled for next week in New York. The delay was attributed to 'logistical and security reasons.' Abdelatty reiterated Egypt's preference for the language of 'realizing the Palestinian state' over the term 'two-state solution,' which he argued allows Israel, whose government opposes the concept, to veto its implementation effectively. He also emphasized Egypt's immediate priority: ensuring Palestinians can remain on their land and avoid forced displacement through rapid recovery efforts, including temporary housing for displaced families. Addressing previous international proposals to redevelop Gaza's coast, Abdelatty firmly rejected the idea. 'Displacement is a red line for both Egypt and Jordan,' he said. Follow us on: Facebook Instagram Whatsapp Short link:
