09:20
cairo, gmt + 2
5 July
Sunday, 2026
Sat, 04 Jul 2026 - 01:56 GMT
During a joint press conference with European Commissioner for the Mediterranean Dubravka Šuica, Egyptian Foreign Minister added, "We discussed ensuring freedom of navigation in accordance with the rules of international law, and we held constructive and frank discussions on ways to enhance economic and investment relations between Egypt and the European Union."
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Kidzonet Egypt said the services were launched in cooperation with the Ministry of Communications and Information Technology, the National Telecommunications Regulatory Authority (NTRA), and Egypt’s four mobile operators.
The project will involve total investments of $300 million and will cover approximately 320,000 square metres in the Sokhna Industrial Zone, according to SCZone Chairman Walid Gamal El-Din.
The project is expected to attract investments of between $30 million and $35 million and will cover approximately 53,000 square metres, according to SCZone Chairman Walid Gamal El-Din.
Under the first agreement, KTDA DMCC will occupy 2,000 square metres at the logistics park.
The Fund attributed Egypt’s performance to the authorities’ swift and decisive policy response, noting that the economic impact of the war in the Middle East has remained relatively contained.
The grant will focus on strengthening electricity transmission infrastructure, improving grid efficiency, and ensuring the network can accommodate additional power generated from solar and wind projects.
Subject to approval by the IMF Executive Board, the completion of the reviews would unlock around $1.6 billion in financing, including $1.5 billion under the EFF and $136 million through the RSF.
The president made the remarks during a meeting with Osama Rabie, Chairman of the Suez Canal Authority, and Mostafa El Degeishy, Chairman of the South Red Sea Shipyard Company.
The three companies are Engineering for the Petroleum and Process Industries (Enppi), with issued capital of $357 million; the Egyptian Linear Alkyl Benzene Company (Elab), with $210 million; and Petroleum Marine Services, with $120 million.
The agreement was approved by the House of Representatives on March 30, 2026, and ratified by President Abdel Fattah El-Sisi on April 6, 2026.
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