Egyptian government, Elsewedy discuss expanding cooperation in petroleum, mining sectors
Egypt - Minister of Petroleum and Mineral Resources Karim Badawi met with Ahmed El Sewedy, CEO and Managing Director of Elsewedy Electric, to discuss avenues for expanding joint cooperation in the fields of petroleum, mineral resources, petrochemicals, and green energy.
During the meeting, Badawi presented the six foundational pillars of the Ministry's strategic plan, highlighting extensive investment opportunities within Egypt's petroleum sector and its rapidly developing mining industry. He emphasised the significance of transforming the Egyptian Mineral Resources Authority into the 'Mineral Resources and Mining Industries Authority'—a newly established economic body that is expected to enhance the Authority's operational efficiency, foster better alignment with government and investor interests, and attract both foreign and local investment into the mining sector.
This transformation, he noted, is a major step towards positioning Egypt as a regional hub for value-added mining activities. By tapping into both domestic mineral wealth and raw materials imported from African nations, Egypt aims to establish complementary industries that create added value across the supply chain. Badawi also reaffirmed the Ministry's commitment to encouraging private sector involvement across these key sectors, stressing the mutual benefits for the state and investors alike.
Ahmed El Sewedy, for his part, reiterated the group's strong interest in investing in mineral resources such as phosphate and kaolin, particularly through the development of downstream industries that enhance the value of these materials. He highlighted Elsewedy Group's broad international presence, with operations in more than 40 countries, and affirmed the company's intention to expand its footprint in Egypt through investments in mining, green energy, petroleum exploration services, and petrochemical industries.
The meeting was also attended by senior officials, including Samir Raslan, Undersecretary of the Ministry for Exploration and Agreements; Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority (EMRA); and Mohamed Radwan, Director of the Egypt Upstream Gateway and Vice President for Agreements and Exploration at Ganoub El Wadi Holding Company for Petroleum.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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