٣٠ مليار جنيه تسهيلات تمويلية للقطاع الخاص لشراء الآلات والمعدات وخطوط الإنتاج

During the fourteenth meeting of the Ministerial Group for Industrial Development, Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, and Ahmed Kjouk, Minister of Finance, announced today, Sunday, the launch of the first phase of the new initiative to support companies in industrial sectors with Priority, as the new initiative includes providing 30 billion pounds of financing facilities to the private sector to purchase machinery, equipment, and production lines in the pharmaceutical industry, the food, engineering, and chemical industries, the ready-made clothing industry, spinning and weaving, and the mining industry. And the construction materials industry, and priority is given to facilities established in the areas most in need of development and the most employment, such as the border governorates, including the Red Sea south of Safaga, the governorates of Upper Egypt and southern Giza, and the Suez Canal region (Port Said, Ismailia, and Suez, east of the canal), and the “General Treasury of the State” contributes to In financing this initiative, it bears the interest rate difference; To increase production capacity and enhance economic growth.

The companies joining this initiative will benefit from the subsidized interest rate of the “State Public Treasury”. The amount is 15% for a period of 5 years from the date of the start of the initiative, provided that the maximum financing for one customer is 75 million pounds, and the related parties are 100 million pounds. These companies also receive an additional reduction in interest rates of 1% when the local added value in their products increases by more than 15%. The previous fiscal year by a rate ranging from 7% to 10%, and the additional reduction increases to 1.5% when the local added value increases by more than 10%. The additional reduction in interest rates also rises to 2% for new industrial activities that have not previously been Its production is local and its import volume is large.

Benefiting from this initiative is linked to obtaining a building permit, completing construction, opening the documentary credit for machinery, equipment and production lines that are imported from abroad, or the tax invoice when purchasing locally. Soft financing may not be used for Payment of any debts owed to companies in the banking sector. This initiative will be re-evaluated on the ground according to the increase in the quantities and types of actual production, the local added value, the increase in the assets and revenues of companies, the localization of new industries, and filling a gap. Local, and linking products to global chains.

The joint statement of the Ministries of Industry and Finance indicated that the new initiative targets private sector companies operating in 7 priority industrial sectors, identified by the Ministry of Industry, which are: the pharmaceutical industry “manufacturing active pharmaceutical ingredients that These include oncology drugs, antibiotics, and others – cosmetics manufacturing, engineering industries, industrial production line machines and equipment, industries feeding new and renewable energy projects, solar energy cells and their components, and power station components. Solar power – Inputs for green hydrogen production projects and green fuel derivatives – Electrolyzer used in green hydrogen production – Wind power plant components and supplies – Mold manufacturing – Containers – Generators and transformers of all kinds – Tractors, agricultural machinery and drilling machines – Repair of water desalination supplies – Refrigeration and air conditioning devices – Industries Electronic – mobile phones, and food industries – powdered milk and baby formula – manufacturing processes of medicinal and aromatic plants, whether dried, pastes or oils – fruits Dried fruit concentrates”, the textile industries “industrial yarns from raw materials – mixed yarns”, the chemical industries “manufacture of inks of all kinds – polyethylene and polypropylene – acrylic”, and the mining industry “processing of mineral raw materials used in the pharmaceutical and food sectors – industries Technology, and building materials industry «Ceramic – marble and granite – pipes.

The Deputy Prime Minister for Industrial Development and Minister of Industry and Transport confirmed that this new initiative comes within 3 initiatives that will work in parallel, the first of which is the initiative that the Central Bank previously launched to finance industrial sectors to purchase Equipment and machinery, an initiative that is still in place and meets the rest of the needs of the industrial companies that received this financing. The latest of these initiatives is a new initiative that the Central Bank is currently studying, which consists of establishing a fund that includes a financial sum from Banks and financiers to help troubled factories, pointing out that any investor who benefited from financing in the previous initiative is prohibited from benefiting from this new initiative proposed by the Ministry of Finance.

The new incentives and facilitation package approved by the Ministry of Petroleum was also announced during the group meeting. And mineral wealth to contribute to solving most of the problems of manufacturers regarding their debts to the Ministry, as the incentives included launching an initiative to pay a minimum value of the arrears debt without interest within 3 months from the date of issuing the decision to a number of industrial investors. (About 1,700 customers) representing about 50% of the total industrial customers, in addition to studying the possibility of paying the new debts in installments over a period of up to 10 years to reduce the monthly burden on investors, provided that the interest rate announced by the Central Bank is applied, with a commitment to pay the new withdrawals on time. due, and the incentives provided by the Ministry of Petroleum and Mineral Resources include applying the average exchange rate of the month prior to the date of issuing the invoice for exporting factories that pay their invoices in dollars in order to maintain Stabilizing the average applied exchange rate and avoiding a sudden increase in the exchange rate. It was also decided to increase the deadline for paying consumption bills to up to 30 days for a period of one year, starting from the issuance of the decision, in order to further facilitate investors.   

With regard to industrial facilities requesting gas connection, the cost of connection will be paid in installments for two years without any interest, and the Ministry will issue a pricing decision to unify the gas price applied to government electricity generation activity to be applied to the gas price for other private companies for the purpose of generating electricity. It was also decided to cancel the claim retroactively, as well as the differences resulting from claims issued at a price higher than the price applied to government electricity, in addition to concluding a cooperation protocol with all industrial customers to supply used oils to the petroleum sector with a deduction of its value from Their debts.

These incentives come within the framework of the Ministerial Group for Industrial Development’s keenness to find radical and rapid solutions to a number of challenges facing industrial investors through all relevant ministries, members of the group, to support the industry and lift the burdens on manufacturers to ensure the continuation of production operations in factories. In response to the requests received by the group, which were discussed during the weekly meetings held by the Deputy Prime Minister for Industrial Development and Minister of Industry and Transport at the headquarters of the General Authority for Industrial Development with industrial investors from various governorates to listen to their demands and challenges. The challenges facing them to find immediate solutions, which included the challenges related to paying late dues for gas bills and the debts resulting from them, and demands to grant them additional grace periods for payment. The industry succeeded in finding solutions to many issues that were outstanding and represented a challenge to the industrial sector.

The outcomes and recommendations of the benefit optimization study were also reviewed during the meeting. of phosphate ore in Egypt, which the Ministerial Group for Industrial Development, at its ninth meeting, was tasked with preparing to prepare the General Authority for Industrial Development, the Mineral Resources Authority, the Holding Company for Mineral Industries, and the Center for Industrial Modernization, in addition to polling the opinion of the Federation of Egyptian Industries, where the recommendations of the study included opening the door to exploration through… The Egyptian General Authority for Mineral Resources continues to issue bids to search for phosphate ore for companies that add value, and direct investment in the field of phosphate ore extraction for the purpose of manufacturing (given the limited profitability and high costs and risks compared to the field of manufacturing). Production of phosphoric acid and the most profitable phosphate fertilizers), in addition to encouraging companies in the public and private sectors to invest in raising the concentration of low-concentration phosphate ore and manufacturing phosphate fertilizers and phosphoric acid with the aim of exploiting companies’ stocks of low-quality phosphate ore, and continuing to export the crude extracted from the Abu Tartur Plateau because it contains impurities. And concentrates of other materials that affect its quality (the percentage of iron and aluminum oxides), with a study of increasing exports to markets capable of absorbing larger quantities of the quality extracted ore. Low for countries such as India and Brazil, in addition to quickly completing the preparation of policies for all mineral raw materials to achieve optimal exploitation of these resources in cooperation between the relevant state authorities and the private sector to maximize the returns achieved. 

The Minister directed the formation of a committee of specialists from the Ministries of Industry. and petroleum to formulate a strategy to localize the phosphate industry in Egypt, taking into account the strategy’s compatibility with all European Union laws and the mechanisms for transitioning from the use of fossil fuels in the phosphate industry to renewable energy in line with the carbon credits available to Egypt. As well as determining the available reserves in Egypt of phosphate ore and optimal marketing methods for the mining sector, especially phosphate ore, in addition to studying the agreements related to exploration and export of phosphate ore to maximize the added value and secure the needs of the local industry based on phosphate ore. 

During the meeting, the Ministry of Public Business Sector’s plan to develop the aluminum industry was reviewed. The presentation addressed the stages of the aluminum industry, the most important global indicators for this industry, the quantities of aluminum produced by Misr Aluminum Company, the company’s sales, its current and future projects, and the investment opportunities available in the sector. Aluminum, the most important of which is the aluminum wire machine production project with the aim of increasing the added value of the local industry and rationalizing imports, the pharmaceutical packaging tablets production project, the aluminum foil production project, the solar energy station project that will be completed within a year and a half, and the aluminum slag recycling project with a capacity of 8 thousand tons annually. An alumina silo production project with a capacity of 50 thousand tons annually, with the aim of increasing the storage capacity of alumina, and a project to rehabilitate the company’s current smelter at a total cost of $260 million over 5 years. In addition to the vehicle rim production project, a new aluminum production factory project to increase production capacity, and the establishment of an additional production line for the company’s factory at a cost of one billion pounds and a production capacity of 200 thousand tons annually, with the implementation period being 3 years, with the aim of replacing 60% of the current market imports and increasing the company’s production capacity. To reach 510 tons annually and increase its exports to reach 577 million dollars, and the alumina refinery project. 

This was reviewed by the fourteenth meeting of the Ministerial Group A number of requests submitted by some companies and the challenges they face, which included the request of the Cyril Company for the manufacture and production of porcelain and ceramics, where the company’s problem with the gas company was resolved, as the Minister confirmed that solving all problems for all factories is considered one of the first concerns of the Ministry of Industry, and the group also approved submitting a proposal The Prime Minister not to cut off any services (gas / electricity / water) to brick factories throughout the Republic that have legal problems presented before the court until the court’s decision is issued, while acknowledging compliance with the court’s ruling and paying the consideration at the new price in Its timings. 

  The meeting also reviewed the plan for the Al-Aqrasha and Bassous regions in Qalyubia Governorate to transform them into planned industrial zones, as the Minister directed coordination with the General Authority for Industrial Development in this regard, with the Ministry of Industry’s readiness to provide the necessary funding for the design and implementation of the two zones.

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