Saint-Gobain bets on revival of Egypt's construction sector
The French company has recently acquired a dry mortar factory in Egypt and is continuing to invest in the country despite the economic challenges.
Egyptian Defence Minister Mohamed Ahmed Zaki travelled to Paris in early June, and Air Force Commander Mahmoud Fouad Abdel-Gawad and President Abdelfattah al-Sisi are soon due to follow in his footsteps. Hopes are high that Cairo will finally buy an Airbus satellite in a deal that has been on the cards for years.
Norwegian energy group Scatec has been trying for several months to obtain European Union financing for the development of its hydrogen and ammonia production projects in Egypt. The European Commission's refusal to grant financing makes their realisation uncertain.
The Egyptian state-owned construction giant will not give up on the mega-contract, despite having lost out to Orascom and Bouygues. Mediation talks are planned over the next few weeks and the national transport agency may well change the outcome of the bid in its favour.
On 25 October, the Egyptian prime minister Moustafa Madbouli along with six of his ministers will be in Paris to meet with French officials. The delegation will also attend a France-Egypt business summit organised by France's business lobby Medef and meet representatives of a dozen French companies.