Egypt: Schneider Electric, Hassan Allam Holding to develop smart agriculture model in Port Said
The two companies will collaborate on a project in El Nouras village, located south of Port Said in Egypt's northern Nile Delta, aiming to improve quality of life through digital and sustainable technologies.
The village, home to around 12,000 people, depends on the El-Salam Canal for irrigation, a key infrastructure channeling Nile water to reclaimed lands in Sinai.
Under the agreement, Schneider Electric will deploy its EcoStruxure technology to improve energy efficiency, support responsible water use, and enhance agricultural productivity.
At the center of the project is a solar-powered, climate-controlled greenhouse expected to produce about 20 tons of vegetables annually.
The project addresses ongoing challenges facing the village's farmers, including limited access to quality irrigation water and the impact of climate change on crop yields.
By enabling vegetable cultivation and supporting food self-sufficiency, it contributes to Egypt's broader sustainable development objectives.
Fully powered by solar energy, the initiative aligns with Egypt's Integrated Sustainable Energy Strategy 2035 and its Updated National Determined Contributions of 2023, which target 42% renewable energy in the electricity mix and a 37% reduction in carbon emissions from electricity by 2030.
Beyond reducing reliance on diesel-powered irrigation, the project aims to provide rural communities with greater access to sustainable technologies, support food security, increase farmers' productivity, and contribute to economic resilience.
It is also expected to create job opportunities for both women and men while building local capacity for long-term operational sustainability.
Announced during Schneider Electric's 'Innovation Day: Buildings of the Future' in Cairo, the partnership reflects the companies' focus on integrating environmental solutions with economic and social development.
The project supports ongoing efforts to address infrastructure gaps in Egypt's rural areas, where many communities still lack access to reliable electricity, clean water, and sanitation.
Both companies view this collaboration as aligned with Egypt's Vision 2030 and the UN Sustainable Development Goals through practical, community-based solutions.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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The National
5 hours ago
- The National
Egyptian village remains tied to tradition of carpet weaving as industry frays
In the small village of Saqiyat Abu Sharah, in the Menoufia province of Egypt, the rhythmic clatter of looms once defined daily life. Known for its intricate handmade carpets, the village was a hub of artistry, its rugs coveted around the world. But today that work has slowed, replaced by the hum of machines and the whispers of an uncertain future. Atef Salah Abdel Razek, 42, owns one of the few remaining factories for handmade-carpet in Saqiyat Abu Sharah. The village, he recalls, was once synonymous with exquisite silk carpets. 'Ten or 15 years ago, every carpet produced here was made of pure silk,' Mr Abdel Razek says. 'Now, due to economic changes, particularly the currency devaluations, we've had to turn to alternative materials like cotton and synthetic blends.' Egypt, alongside Iran and Turkey, has long been a major player in the global handmade carpet market. But a series of economic upheavals, including the devaluation of the Egyptian pound, has profoundly altered the industry. Since 2016, when Egypt floated its currency as part of a deal with the International Monetary Fund, the pound has plummeted through five separate devaluations, the latest in 2024. The cost of raw materials has rocketed, pricing out many craftsmen and buyers. Pure silk, once the hallmark of carpets from Saqiyat Abu Sharah, is now a rare luxury, Mr Abdel Razek explains. 'A square metre of pure animal-fibre carpet today can cost up to 30,000 Egyptian pounds [$600],' he says. In contrast, synthetic alternatives cost as little as 180 pounds a metre. In 2010, a square metre of a high-quality handmade rug was sold for 2,000 Egyptian pounds. That was about $500 given the exchange rate at the time. 'The kind of customer we need is someone who values things in US dollars,' he says. 'For them, 5,000 Egyptian pounds is $100, so it doesn't feel as expensive.' This pricing disparity has shifted the industry's focus. Mr Abdel Razek says that up to 90 per cent of the village's carpets are now exported to international markets, where customers can afford such luxuries. The remaining 10 per cent are sold locally, primarily to wealthier Egyptians or tourists, at bazaars in cities such as Cairo, Luxor and Sharm El Sheikh. Mr Abdel Razek's factory, like many in the village, relies heavily on international exhibitions to showcase its wares. 'The state organises regular fairs and so does the private sector,' he adds. 'These channels are essential for us. Selling directly to international buyers is rare.' But even as exports sustain the industry, the craft is in decline. In the 1970s and 1980s, Saqiyat Abu Sharah thrived as a hub for handmade carpets, a legacy that dates back centuries. The origins o the craft in Egypt can be traced to pharaonic times, with evidence of weaving techniques evolving under the Fatimid dynasty, from 969 to 1171, when silk was introduced as a primary material. During the Mamluk period, from 1250 to 1517, complex geometric patterns elevated Egyptian carpets to works of art, a tradition that persisted through Ottoman rule, which brought its own augmentations. By the mid-20th century, Egypt's post-revolutionary government, under Gamal Abdel Nasser, sought to revive and industrialise traditional crafts, turning villages such as Saqiyat Abu Sharah into production centres. But today, that legacy is fraying. Rashed Areeda, 49, has been weaving carpets since he was six years old. 'It is a laborious craft and it has worsened my eyesight over the years,' he says. 'But I love it. It is an art form and an important heritage.' In Mr Areeda's youth, nearly every household in the village had someone trained in carpet weaving. 'When I was growing up, there was a palpable sense of community,' he recalls. 'Workshops were everywhere and the craft was our main source of income.' But today rising costs and dwindling demand have driven many craftsmen out of the industry. 'In order to make money, you have to be taught as a child,' Mr Abdel Razek says. 'When you're young and dependent on your parents, you learn. Then, as an adult, you are proficient enough to earn.' But with the craft no longer considered a viable career, many young people in the village are turning to other jobs, moving to cities to work as security guards, cleaners and labourers. Mr Abdel Razek has cut his factory's operations in half because of a lack of skilled workers. For those who remain, it is not a lucrative job. 'Day workers' wages haven't increased nearly enough to offset their rising cost of living,' he admits. But the village's carpets remain highly regarded abroad, a testament to their quality and craftsmanship. 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Zawya
5 hours ago
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Dr. Al-Mashat highlighted that the extended partnership between the governments of Egypt and Norway has been essential in boosting the economy, developing the renewable energy sector, and creating better opportunities for the Egyptian economy. H.E. Dr. Rania Al-Mashat emphasized Egypt's commitment, with its expanding economy and attractive investment climate, to attracting new foreign partnerships and investments that can drive innovation, economic growth, and sustainable development. H.E. Dr. Al-Mashat pointed to the most prominent areas of cooperation with the Norwegian side, which include the oil, energy, gas, maritime transport, shipping, and shipbuilding sectors, in addition to fisheries and aquaculture. She noted that Egypt is keen to expand these areas of cooperation, and highlighted that the Egyptian-Norwegian partnership in promoting investments in the renewable energy sector was a central focus of H.E. 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Dr. Al-Mashat noted that the economic cooperation between the two countries has been an important axis in bilateral relations, with the Netherlands providing over 407 million Euros in development financing to Egypt since 1975. This assistance has contributed to supporting many vital sectors, including agriculture and irrigation, health and social affairs, transport, electricity, housing, tourism, education, and local development. She stated that the Netherlands is one of Egypt's main trading partners within the European continent, with bilateral trade amounting to approximately one billion Euros annually. Both sides aim to expand this cooperation and diversify its areas, especially given the available opportunities for economic integration between the two countries. H.E. Dr. Al-Mashat highlighted the "Orange Corners" program, implemented in cooperation with the Dutch side and the private sector, to support entrepreneurs in the Nile Delta and Upper Egypt governorates. 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Zawya
9 hours ago
- Zawya
Al-Sager: Our strong operational performance continued, with robust profits
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Al-Sager stressed that the Bank remains committed to its approved dividend policy, noting that in light of the strong growth in its loan portfolio both locally and internationally, the Bank has opted to retain interim profits until year-end, with a focus on year-end final dividend distribution. This approach provides greater flexibility to capitalize on growth opportunities as they emerge throughout the year, in alignment with the Bank's strategic priorities. He pointed out that NBK's regional and international presence plays a vital role in mitigating risks, sustaining stable returns, and enhancing operational efficiency. Furthermore, he added that the Bank remains focused on leveraging cross-selling opportunities across its diverse geographical footprint. At the same time, its wealth management arm will continue to capitalize on deep expertise to deliver a comprehensive suite of portfolio management, advisory services, and investment solutions. Meanwhile, the Bank's Islamic banking services will further strengthen their local footprint while diversifying sources of profitability. Projects Market Momentum Al-Sager emphasized that following a strong year of project market activity in 2024, particularly in the second half of the year, the pace of activity moderated slightly during the first half of 2025. He noted that this moderation largely reflects a normalization from the elevated levels seen last year. Nonetheless, the outlook remains encouraging, supported by a pipeline of ongoing projects valued at KD 10 billion, signaling the government's continued commitment to advancing its development and reform agenda. Al-Sager affirmed the Bank's ongoing commitment to sustainability and the advancement of its sustainable finance agenda, highlighting the recent publication of its first Green Bond Allocation and Impact Report, as well as its inaugural TCFD Report. These disclosures underscore NBK's efforts to enhance transparency and accountability in its ESG and sustainable finance strategy. They also reflect the Bank's significant progress in integrating climate considerations across its operations, with a strong emphasis on portfolio diversification and climate risk management. Meanwhile, Mr. Sujit Ronghe, Group Chief Financial Officer at NBK, stated that the Group continues to demonstrate strong operational momentum, driven by robust growth in business volumes, most notably across the loan and investment portfolios. He added that the Group continues to benefit from the strength of its loan portfolio, which demonstrates high asset quality and a well-considered diversification of growth sources. Ronghe explained that key business segments made strong contributions to net profit in the first half of 2025, highlighting their effectiveness as core pillars of the Group's diversification strategy and their role in reinforcing profit resilience. He stressed that NBK Group continues to leverage its unique competitive advantages among Kuwaiti banks, particularly its broad geographic footprint and its ability to operate across both conventional and Islamic banking. Amid growing concerns over the impact of the ongoing tariff war and its implications for the global business landscape, Ronghe explained that NBK remains well-positioned to navigate this volatile environment, a testament to the strength and resilience of its diversified business model. Regarding the catalysts for loan growth during the first half of 2025, Ronghe stated that corporate credit was the primary driver, emphasizing that demand was not concentrated in any single geographic area. Instead, it was well distributed across NBK's network, including the GCC region, international markets, and Boubyan Bank.
