During the meeting, Indian company Welspun expressed its intention to set up a textile project in Egypt to help it enter African markets and boost exports to European, Arab, and US markets.
India plans to establish a black carbon plant in Egypt with investments of $ 60M, this came during the meeting between Head of the Trade Ministry's Commercial Representation Authority, Yehia El Wathek Bellah, and major Indian companies to discuss potential investments in Egypt.
The delegation from the carbon black company will be visiting Egypt to conduct field visits to potential locations that could house the factory.
During the meeting, Indian company Welspun expressed its intention to set up a textile project in Egypt to help it enter African markets and boost exports to European, Arab, and US markets.
The Welspun's representatives delved into discussions regarding investment costs associated with land acquisition, energy pricing, labor, and available incentives, particularly within the Suez Canal Economic Zone.
A delegation from Welspun is scheduled to visit Egypt to engage with government officials to finalize the necessary feasibility studies for establishing a project in the region.
El Wathek Bellah also held discussions with executives from Air India, India's national carrier, exploring the establishment of a direct flight route connecting Cairo and the Indian capital.
The discussions also encompassed strategies to enhance transportation, tourism, and trade ties between the two nations.
Furthermore, El Wathek Bellah met with representatives from Ocior Energy, an Indian company, to review progress on their planned green ammonia production project in Ain Sokhna.
Earlier this summer, the company sealed a $4.3 billion agreement with the Suez Canal Economic Zone to develop the plant at the Port of Ain Sokhna.
