Egypt's Cabinet has approved the start of contracting procedures to establish an integrated logistics and services zone in Toshka, alongside a new Elsewedy Electric manufacturing project in Fayoum, as part of efforts to strengthen trade infrastructure and expand industrial investment.
The logistics zone will be developed on a 30-feddan site in Toshka, Aswan Governorate, to serve the planned dry port in the area and support trade, transport, and logistics activities across Upper Egypt.
According to the government, the project is expected to strengthen supply chains, facilitate trade, and support Egyptian exports, particularly agricultural products and other goods.
The Cabinet said the project aligns with Egypt's strategy to position itself as a regional and global logistics hub while attracting investments that support economic and urban development in promising regions.
In a separate decision, the Cabinet approved contracting with Elsewedy Electric to establish a factory for the production of electrical wiring harnesses and related components on a 22.6-feddan plot in Manshaat Kamal, Fayoum Governorate.
The government also approved a draft presidential decree abolishing the Housing Finance Fund, established under Presidential Decree No. 494 of 1979.
Under the decision, all assets, resources, rights, and obligations of the fund will be transferred to the New Urban Communities Authority (NUCA), which will assume responsibility for all contracts previously signed with beneficiaries. The fund's board of directors will be dissolved, and the position of executive director will be abolished.
