German Belchem Company plans to establish €30M fiber factory in Egypt

German Belchem Company, a leading global producer of fire-resistant fibers, discussed plans to establish an integrated factory in Egypt with an initial investment of €30 million.

 The project, spanning 100,000 square meters, would produce fire-resistant industrial fibers, crucial for industries such as automotive and aviation. The company will send a delegation to Egypt to advance the project.

This came during the meeting between Minister of Investment and Foreign Trade, Hassan El-Khatib, and German companies specializing in fiber production and bicycle manufacturing, emphasizing Egypt’s commitment to supporting German investors and offering a competitive business environment.

One of Europe’s top bicycle manufacturers explored establishing a facility in Egypt to produce carbon-reinforced plastic parts (e.g., handlebars and wheel rims) for export to Europe.

 The project targets an annual output of 300,000 components, with exports valued at €10 million and an initial investment exceeding €5 million.

Cube also plans to investigate the feasibility of a full-scale bicycle production facility in Egypt.

German business circles expressed significant interest in investing in Egypt, particularly in infrastructure, renewable energy, and ICT sectors.

The discussions focused on deepening bilateral economic relations and reviewing Egypt’s recent economic reforms aimed at improving the business environment and encouraging foreign investments.

El-Khatib also met withGerman Deputy Chancellor and Minister of Economy and Climate Protection, Robert Habeck, to strengthen economic and trade cooperation between Egypt and Germany.

Both sides agreed to hold the Joint Economic Committee sessions in Cairo on February 18-19, with the participation of a delegation of German business leaders.

The agenda will focus on enhancing economic and investment relations and establishing an actionable roadmap.