EGX 30 rises 0.5% as Elsewedy highlights $200 mln investment plan
The EGX 30 rose 0.5% to 52,558.4 points on July 15, with Elsewedy Electric dominating the news flow. MSN reported on July 10 that Elsewedy Electric wants to invest $200 million in Egypt's industrial sector, preserving the conditional nature of the plan. Ad-hoc-news.de said on July 9 that the group is balancing regional growth with global challenges, with no additional figures in the headline. The Petroleum Ministry said on July 8 that the phosphate industries complex with Elsewedy Electric reflects the success of mining reforms and a public-private partnership, according to petroleum.gov.eg.
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