The meeting was attended by Nahed Youssef, Chairman of the General Authority for Industrial Development, and other senior officials from the Ministry of Industry.
The proposed complex will house several integrated
factories, including one for producing brass water connections, faucets, and
valves, and another for manufacturing zinc and stainless steel accessories and
handles. A third factory will specialize in producing various types of brass
water mixers.
The project aims to enhance Egypt’s industrial capacity and
expand its base of metal industries, with plans to create more than 1,000
direct jobs.
Engineer Al-Wazir emphasized Egypt's commitment to building complementary
industries with Saudi Arabia, leveraging the strong fraternal relations between
the two nations. He stated that joint industrial cooperation opens broad
prospects for major projects that would benefit both economies, add significant
value, and serve local, regional, and international markets.
The Minister affirmed that the ministry would review the Group's
request, noting that the new expansions would support Egypt’s strategy to
reduce imports, boost exports, localize strategic industries, and create jobs.
Al-Wazir also highlighted that the Egyptian government
supports serious investments and prudent management of strategic resources. He
noted that copper scrap is a rare resource and its use must balance meeting
local market needs, reducing import reliance, and enabling exports after
achieving self-sufficiency.
He directed all land and sea ports to prevent the export of
copper scrap or rods unless they are processed into their final manufactured
form, to ensure local market needs are met and value is maximized before
export.
For his part, Muhailab AlMuhailab, Chairman of Keenan Holding Group, stated that the company's existing factory in the Margham area of Alexandria processes yellow copper scrap into high-quality alloys. He added that the current facility meets a significant portion of the local market's needs and exports its products to several countries, demonstrating the competitiveness of Egyptian products in regional and international markets.