Egypt to launch USD 60 mn carbon black production plant: Egypt's Trade Representation Authority held a meeting with one of India's largest carbon black producers to agree to study a USD 60 mn factory in Egypt, according to a press release. This comes as part of a series of meetings held by ADFCA with representatives of a group of major Indian companies in the fields of green hydrogen, home furnishings, transport and tourism.
New major shareholder joins Eastern Tobacco Co.: UAE's Global Investment Holding has acquired a 30% stake in Eastern Tobacco Company in a deal that will make it the largest single shareholder in the tobacco manufacturing company and give a boost to the government's privatization program, according to a Cabinet statement issued yesterday evening. The Emirati company will pay $625 million to the Holding Company for Chemical Industries for the stake, in a deal valued at more than $2 billion.
The electric vehicle battery recycling industry is awaiting a boom that will revolutionize, according to industry updates from the Washington-based Specialty Energy Platform. The British company Altilium successfully launched the recycling of electric vehicle batteries, enabling it to recover 97% of lithium and 99% of graphite from lithium iron phosphate batteries for reuse in new batteries. The strategic move underscored Altilium's commitment to building a sustainable supply chain in the UK for battery staples and reducing the environmental impact of battery production.
Recent forecasts indicate that the growing need for electric vehicles is contributing to the expansion of the market for energy storage systems and related innovative technologies. An electric car means a vehicle that runs entirely or partially on an electric battery that can be recharged, according to information seen by the Washington-based Specialized Energy Platform. These types of cars rely on renewable energy, which necessitates the use of backup energy storage systems, energy needs management and enhanced grid stability.
Egypt's Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, announced the establishment of a joint Egyptian-Saudi real estate investment fund. The fund aims to develop a diversified portfolio of land assets and investment opportunities across strategic locations in Egypt. This initiative is part of broader efforts to deepen Egyptian-Saudi cooperation in the real estate sector and attract fresh capital into key development projects
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