Egypt Grants Golden Licenses for EGP 15.1bn Investments to MAC and Deli Egypt

The Egyptian Cabinet, led by Prime Minister Mostafa Madbouly, approved Golden Licenses for two projects totaling EGP 15.1 billion. MAC received a EGP 6.3 billion license to establish an integrated automotive complex in New October City, expected to generate 1,000 jobs and commence operations by early 2027, with a local component share of 42% and at least 50% of output for export.

Deli Egypt was granted an EGP 8.8 billion license for a factory in 10th of Ramadan City, projected to create 2,200 jobs and achieve over 50% local sourcing, with completion expected by February 2027. The Cabinet also approved a $208 million petroleum exploration agreement in the Western Desert, targeting 105,000 barrels of oil and 1.2 billion cubic feet of gas monthly, alongside grants for green energy projects in Sohag and the Suez Canal, and plans for a 1-gigawatt solar power plant in Qena.