Edita to invest EGP 1 bn by 2025
EGX-listed snackmaker Edita plans to invest EGP 1 bn over the coming three years to expand operations, company chairman Hani Berzi said, according to a company statement (pdf). Berzi made the announcement on the sidelines of a visit by Prime Minister Mostafa Madbouly and Trade Minister Nevine Gamea to the company’s Sixth of October factory. The snackfoods maker had previously said it plans to invest around EGP 400 mn to add new production lines for its baked goods and wafers segments in Egypt this year, as well as to expand to at least one new market in 2022 and another in the next five years.
Everyone seems to want in on our budding green hydrogen industry: Electricity Minister Mohamed Shaker met with a delegation from General Electric to discuss boosting cooperation in renewable energy, electricity and green hydrogen ahead of COP27 in November. (Statement)
Other things we’re keeping an eye on this morning:
- Egypt has received 1.5 mn doses of the Pfizer vaccine from the US through the Gavi / Covax program. (Statement)
- We’re getting USD 2.5 mn from the Kuwait Fund for Arab Economic Development to fund feasibility studies for the planned Egypt-Sudan railway. (Statement)
- French tech consulting company Atos will finish digitizing operations at Ghazl El Mahalla and Misr Cotton Ginning Co factories in 1H2022. (Al Mal)
- Misr Hotels is looking to inaugurate its delayed Safir Dahab Hotel during Eid El Fitr. (Al Borsa)