Egypt Cabinet approves $750M solar project and leather industry expansion

The Egyptian Cabinet, chaired by Prime Minister Mostafa Madbouly, has approved several key economic and industrial projects.

A major solar energy project in West Minya has been granted a ‘Golden License’. The project, led by Niveer Minia for Renewable Energy, involves a $750 million investment to establish a 1,000 MW solar power plant with 600 MWh of energy storage capacity. The facility is expected to be completed by September 30, 2027, and aims to reduce carbon emissions by one million tons annually while providing approximately 2,500 jobs during the construction phase.

Additionally, the Cabinet approved a new leather manufacturing project under the name Sky Nova for Leather Industry in the Robiki Leather City, Cairo. This $12 million investment aims to produce 2.5 million pairs of shoes annually, with expected exports reaching approximately $148.4 million between late 2027 and 2032. The project intends to employ about 1,000 workers.

The Cabinet also approved a presidential decree regarding a partnership agreement between Egypt and the French Development Agency to implement the second phase of a technical cooperation project focused on supporting French language teaching.