Latest news with #SadatCity
Zawya
6 days ago
- Business
- Zawya
Egyptian government grants golden licenses for 3 strategic projects
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. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The Sun
28-06-2025
- Science
- The Sun
Lost 2,400-year-old city uncovered by archaeologists with multi-storey buildings and temple dedicated to cobra goddess
A ONCE bustling city with multi-storey tower houses and a cobra goddess temple built 2,400 years ago has been discovered by archaeologists. The densely built city dates back to the 4th century BCE - and even used to have a thriving local economy and religious traditions, researchers said. 5 5 5 Buried under modern day Tell el-Fara'in, Egypt, state-of-the-art technology has been used to uncover the ancient city of Imet. Boffins from the University of Manchester and the University of Sadat City in Cairo made the groundbreaking discovery in the African nation's Nile Delta. A team of archaeologists led by Dr. Nicky Nielsen excavated an array of extraordinary artefacts - which point to the location's booming economy and religious practice. The team said: "The University of Manchester is bringing the ancient Delta back one discovery at a time." They said locating the forgotten city of Imet allowed them to have a greater understanding of "daily life, spirituality, and urban planning in the Delta". The incredible city dates back to the Late Period in Egypt - the final era of Egyptian rule which was killed off by Alexander the Great's conquest. Archaeologists used remote sensing including high-resolution satellite imagery. They first detected ancient mudbricks, which led them to discover 'dense architectural remains'. These included multi-storey buildings with "exceptionally thick foundation walls". The team dubbed these "tower houses". The 4th-century Egyptians are understood to have built them to accommodate their soaring population. Imet, as well as the Delta region, became an urban center, the scientists said following their breakthrough finding. Leading researcher Dr Nielsen said: "These tower houses are mainly found in the Nile Delta between the Late Period and the Roman era, and are rare elsewhere in Egypt. "Their presence here shows that Imet was a thriving and densely built city with a complex urban infrastructure." In another shocking revelation, the scientists also discovered a large building dating to the mid-Ptolemaic Period - even older than the Late Period. This fascinating find meant that the city may have had even more ancient roots. The building, which is understood to be older than the rest of the city, had a limestone plaster floor and massive pilars. It was also built across a processional road that connected it to a temple dedicated to the city's patron deity, Wadjet, the cobra goddess. But it was abandoned around the mid-Ptolemaic era, sparking theories that religious beliefs may have changed at the time, the experts said. Archaeologists also uncovered a grain-processing area and animal pens - proof that Imet had a developed local economy and religious traditions. And they found artefacts which supported the idea that the Delta centre was once a thriving Ancient Egyptian community. Their most prized discoveries included a green faience ushabti from the 26 th Dynasty, a stela of the god Harpocrates with protective iconography, and a bronze sistrum adorned with the twin heads of Hathor, goddess of music and joy. These finds have helped experts piece together one of Ancient Egypt's long-lost cities - shining new light on the empire's final days. 5
Zawya
20-05-2025
- Business
- Zawya
Huhtamaki Egypt to invest in sustainable packaging plant in Sadat City
Egypt - Huhtamaki Egypt has secured the prestigious Golden License from the Egyptian Cabinet to establish a state-of-the-art molded fiber packaging facility in Sadat City, located within the CPC Industrial Zone of Menofeya. With a total investment of EGP 1.47bn, the project represents one of the Finnish packaging leader's most significant commitments in the region. Spanning approximately 22,000 square meters, the facility will be developed using recycled wastepaper and equipped with advanced molded fiber technology to produce eco-friendly packaging solutions such as egg cartons, fruit trays, and cup carriers. The plant is expected to begin operations in August 2026 and will create over 61 direct jobs, serving both domestic and international markets. This project marks a major milestone in the long-term strategic partnership between Huhtamaki Oyj and Ayman Korra, a key div in the project's structure and CEO of Korra for Energy & Investment Projects—one of Egypt's leading industrial firms. 'The awarding of the Golden License to this Huhtamaki initiative reflects the state's strong support for committed investors,' said Ayman Korra. 'It also affirms Korra's strategy of attracting global investment and localizing advanced technologies within the Egyptian market.' The Golden License, introduced by the Egyptian government to fast-track projects of national importance, provides a comprehensive approval framework for establishment, construction, operation, and licensing. It also offers a range of administrative and investment incentives to streamline project execution. Huhtamaki Egypt is now among fewer than 50 projects to have been granted the Golden License since the programme's inception in 2017—out of more than 300 applicants. This distinction underscores the strategic importance and transformative potential of the project. As Egypt strengthens its position as an investment hub, this development highlights the power of aligning global innovation with local vision—reinforcing Huhtamaki's role as a regional leader in sustainable packaging and supporting the broader national agenda for green industrial growth. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
