Egypt’s Ministry of Military Production Generates US$1 Billion in Revenues

Daily News Egypt Egypt Today09.11.2020 Egypt
Egypt’s Ministry of Military Production Generates US$1 Billion in Revenues

Egypt’s Ministry of Military Production Generates US$1 Billion in Revenues

Facebook icon
Twitter icon
LinkedIn icon
Google icon
e-mail icon

Egypt’s Ministry of Military Production has achieved revenues of EGP 15.5 billion (US$984.8 million) in fiscal year (FY) 2019/20, compared to EGP 13.2bn in FY 2018/19.

Minister of Military Production Mohamed Ahmed Morsi (photo) told Daily News Egypt that the Ministry is looking to deepen the country’s industry. It is also looking to develop a strategy for boosting the electric car industry in Egypt, which Prime Minister Mostafa Madbouly is set to announce within weeks.

Consultations are also ongoing with an Italian company into manufacturing dual fuel or natural gas cars, as well as electrical bikes for military colleges and a number of companies. Offers have been made to the Ministries of Youth and Sports, and Higher Education and Scientific Research, and production lines will be established after agreement with one of the authorities.

Morsi revealed that a seawater desalination plant with a vertical, rather than horizontal, system is being implemented at Ain Sokhna. It is expected that the plant will produce 10,000 cubic meters of desalinated water per day, and will sell water at a lower price than its counterpart in the same area.

The Minister referred to the agreement with a British consortium that will see a joint project to produce energy from waste implemented. The Ministry of Military Production is scheduled to acquire land of an area of 10 feddan for the project, with the governorates set to put forward 1,000 tons of waste per day.

He added that a total of 192 national and development projects have been implemented as a new industrial addition for Egypt’s current capacities. The projects, worth a total of EGP 25bn, have been set up for the benefit of various state ministries, governorates, and authorities.

These projects have been set up in the fields of: electricity and energy; water purification and treatment; communications and information technology (CIT); construction; facilities and roads; transportation; local development; water resources and irrigation; agriculture and reclamation; and tourism and antiquities.

Morsi’s remarks came during a speech last Tuesday to celebrate 66 years since the foundation of the Ministry of Military Production. He said that work is underway to establish a number of new industrial companies working in the field of solar panels cell production, starting with Egyptian quartz, producing car tires, electric buses, natural gas cylinders, and stations for water purification using “ZLD” technology.

He confirmed that his Ministry has participated in the implementation of many national projects in cooperation with other Ministries, authorities, and governorates. A factory for artificial turf was inaugurated with the participation of the Ministry of Youth and Sports, with certified international specifications and conforming to FIFA specifications. A factory for electric elevators has also been started.

 
 



Latest Issue

Latest events

 

THE WORLD DEFENCE ALMANAC 2021