Egypt's Cabinet Approves Major Infrastructure and Economic Projects

The Egyptian cabinet, chaired by Prime Minister Mustafa Madbouly, approved a series of initiatives aimed at boosting industrial capacity, food security, agricultural research, energy infrastructure and logistics.

Key measures include authorising a contract with the Swedish firm Sweco Electric to build a factory for all types of electrical cables on a 22.6‑feddan site near Fayoum, and directing the Ministry of Supply and Internal Trade, through the Food Industries Holding Company, to construct 300 strategic bakeries across the country. A law to merge the Egyptian Agricultural Authority into the Agricultural Research Center was also passed to consolidate research functions.

The cabinet endorsed a €35 million EU‑funded grant and a €2 million technical cooperation grant from the European Bank for Reconstruction and Development to modernise and expand Egypt’s power transmission and distribution network, supporting the nation’s renewable‑energy targets for 2030. Other decisions include renaming the Al‑Ahli Bank Hospital in Qitmeya, liquidating the Housing Finance Fund and transferring its assets to the New Urban Communities Authority, increasing the authorized capital of Suez Canal Modern Boats Company from $100 million to $250 million, and establishing a 30‑feddan logistics and service zone near Toshka in Aswan to support the planned dry port project.