Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El-Wazir, met with French Ambassador to Cairo, Eric Chevalier, to explore strategies for localizing various industries in Egypt. The focus areas included the automobile industry, railway rolling stock, renewable energy, and green hydrogen. The discussions centred around ongoing joint transport projects and the latest developments outlined in the Memorandum of Understanding between the Egyptian Ministry of Transport and the French Ministry of Economy and Finance. One key initiative involves collaboration with the French company Alstom to localize railway and electric traction industries. Plans include establishing a large industrial complex in Borg El Arab City, covering 66 feddan, to produce electrical systems and railway components. Additionally, a factory will be built to manufacture various types of rolling stock, including metro, tram, LRT, monorail, and high-speed trains. The project aims to meet local market demands and eventually expand exports. Updates on Metro Line 6 were also discussed. This line will extend from El-Khosous to New Maadi, with a second phase connecting to New Cairo. It will intersect with the high-speed train at Mohamed Naguib Station and the East Nile Monorail at Al-Narges Station on South Teseen Street. Both sides affirmed their commitment to implementing these projects according to the agreed schedule. Cooperation with France extends beyond rail-related industries. Discussions covered localizing the automotive industry and developing new and renewable energy sectors, including wind energy and green hydrogen. Egypt's desire to enhance collaboration with French companies stems from its reputation for high-quality products and global expertise. The large Egyptian consumer market encourages localization and subsequent exports. The Minister emphasized that Egypt is actively pursuing localization efforts, fostering strong cooperation with French counterparts. Projects may involve French companies establishing factories in Egypt or partnering with Egyptian private sector firms. Increasing the presence of French companies across various fields in the Egyptian market remains a priority. French Ambassador Eric Chevalier expressed confidence in Egypt's industrial growth. His government aims to enhance cooperation by encouraging more French companies to operate in Egypt. Currently, 180 French companies provide approximately 55,000 job opportunities and contribute significantly to Egypt's economy. A comprehensive file on these companies includes details on activities, investment volumes, and essential data for future planning. Magali Cesana, Head of the Bilateral Affairs and International Business Development Department at the French Treasury, confirmed that the French political leadership and government are very interested in implementing these projects in cooperation with the Egyptian side. She stated that such projects would attract a large number of French companies to work in the Egyptian market and localize various industries, and assured that she would closely monitor this important file, which holds great significance for both sides.
