with $7.6 million.. Establishing the first factory to “gas safety valve” in Egypt

Under the slogan "Development of Egyptian Industry", one of the companies that is the executive arm of the National Initiative for the Development of Egyptian Industry "Ibda'" signed a shareholder agreement with the Spanish company Coperci of the international "Mondragon" group, which is one of the largest international companies in the field of manufacturing safety valves. Gas.

$7.6 million for first factory of   "gas safety valve" 

The contract was signed to establish the first factory to manufacture the "gas safety valve" in Egypt, with an estimated production capacity of 15 million valves, and an investment cost of about $7.6 million, which is scheduled to open during April of next year 2023.

Strengthening the role of the private sector

This comes in cooperation with both Fresh Electric Company and Al-Arabi Group of Companies, within a fruitful framework to enhance the role of the private sector to localize modern industries, and reduce the import gap, by adding new investments to the industrial sector.

 The National Initiative for the Development of Egyptian Industry "Start"

It is worth noting that the national initiative to develop the Egyptian industry, "Start", was launched by President Abdel Fattah El-Sisi, President of the Republic, during the Egyptian family's breakfast in April 2022.

  It aims to strengthen the role of the private sector in localizing the industry, reducing the import gap, rehabilitating Egyptian workers, overcoming obstacles in front of faltering factories, and constructing new factories in Egypt.

  The "Start" initiative is also an economic arm of the "Decent Life" initiative, and its objectives are integrated with the country's national goals, international commitments, and efforts towards achieving sustainable economic and social growth, providing clean energy solutions, innovation in the industrial field, and responsible consumption and production.