Egypt seals settlement with South Valley Cement to clear investment backlog

Egypt signed a settlement agreement on Tuesday with South Valley Cement Company aimed at closing long-running disputes with several government entities, part of a broader push to improve the country’s investment climate and restore investor confidence.

Prime Minister Moustafa Madbouly oversaw the signing at the government headquarters in the New Capital. The deal was drafted by the committee responsible for resolving investment contract disputes and attended by senior officials, including Deputy Prime Minister and Industry and Transport Minister Kamel El-Wazir, Justice Minister Adnan Fangary, and Petroleum Minister Karim Badawy.

Heads of the Industrial Development Authority (IDA), the Egyptian General Petroleum Corporation (EGPC), the National Company for Roads, and the state mining company signed on behalf of the government. Chairman Fahad Hussein Ali Shobokshi signed for South Valley Cement.

The government said the agreement will help accelerate investment decisions, settle outstanding claims with the private sector, and support new capital inflows. It also aims to ensure uninterrupted production in Egypt’s cement and building-materials sector, viewed as critical for domestic supply and major infrastructure projects.

Attribution: Amwal Al Ghad English