President El-Sisi directs development of local manufacturing in black sand, fertilizer, and rare earth industries
President Abdel Fattah El-Sisi has directed the development of local manufacturing in the black sands industry, related value-added industries, fertilizers, and rare-earth elements. This directive was made during a meeting in New Alamein with Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mahmoud Esmat, and Chairman of Concord for Engineering and Contracting Ahmed Elabd. The meeting also reviewed Egypt鈥檚 national strategy to expand new and renewable energy projects, aiming to increase renewable energy's share to 45% of total power generation by 2028. This strategy seeks to enhance Egypt's reliance on new and renewable energy and requires an expansion of battery-based electricity storage technologies. The discussion included the role of international partners in providing technical support and financing for these projects, positioning Egypt as a regional hub for energy and electrical equipment manufacturing. President El-Sisi emphasized supporting the localization of industries linked to new and renewable energy as crucial for energy security and the green transition, highlighting partnerships that utilize locally manufactured equipment, especially energy storage batteries. Minister Esmat noted that total investments in the electricity and new and renewable energy sectors have reached approximately LE 5 trillion since 2014.
