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Egypt and Maersk ramp up green plans: Egypt’s Suez Canal Authority (SCA) signed an agreement with Danish shipping giant AP Moeller-Maersk to extend cooperation in the green transition, according to a statement released on Thursday. The SCA and Maersk also discussed development plans for the Suez Canal Container Terminal (SCCT) in East Port Said and […]
Author Archives: enterpriseam admin
Posted inM&A WATCH
Sabic divests stakes in Hadeed to expand portfolio in renewables and mining
Sabic sells Hadeed to PIF in a bid to expand other business: KSA’s leading petrochemical company Saudi Basic Industries Corporation’s (Sabic) has sold steels subsidiary Saudi Iron and Steel Company (Hadeed) to Saudi Arabia’s sovereign wealth fund the Public Investment Fund (PIF) at an enterprise value of SAR 12.5 bn (c. 3.3 bn), according to […]
Posted inUncategorized
Posted inWIND
Egypt greenlights proposal by OC-led consortium for new Gulf of Suez wind farm
A new wind farm in Egypt’s Gulf of Suez? The Egyptian government approved a proposal by an Orascom Construction-led consortium including Japan’s Toyota Tsusho and France’s Engie to build a new wind energy plant in the Gulf of Suez, according to a statement last week. Egypt has yet to begin talks with the companies on […]
Posted inNUCLEAR
Egypt grants permission for construction of Dabaa nuclear plant’s fourth and final reactor
Regulator approves fourth reactor at Egypt’s Dabaa: The Egyptian Nuclear and Radiological Regulatory Authority (ENRRA) has granted permission for the construction of the fourth and final 1.2 GW reactor at Egypt’s 4.8 GW Dabaa nuclear power plant, according to a statement released last week. The approval comes a few months after the nuclear regulatory body […]
Posted inCLIMATE DIPLOMACY
The UAE has a CEPA with New Zealand up its sleeve
A CEPA between UAE, NZ is happening: UAE Minister for Foreign Trade Thani bin Ahmed Al Zeyoudi discussed with New Zealand’s Trade and Export Growth Minister Damien O'Connor deeper economic collaboration through a Comprehensive Economic Partnership Agreement (CEPA) between the two countries, Wam reported on Friday. Al Zeyoudi said that the two countries share a […]
Posted inALSO ON OUR RADAR
SDX Energy is divesting its Egyptian assets as it shifts focus to Morocco’s energy transition
SDX Energy is divesting its assets in Egypt: UK-based SDX Energy said it has entered into a non-binding heads of terms with an unnamed multinational operator to divest its assets in Egypt, it said in a disclosure to the London Stock Exchange last week. The disposal of its Egyptian assets will help the company focus […]
Posted inAROUND THE WORLD
Hyundai plans to acquire 5% stake in Korea Zinc as it expands EV battery supply chain
Hyundai to buy 5% stake in world’s largest zinc smelter: South Korea’s giant automaker Hyundai Motor Group will buy a 5% stake — worth KRW 527.2 bn (USD 398 mn) — in Korea Zinc to ensure access to key metals used in making EV batteries, Bloomberg reported last week. The group also signed an agreement […]
Posted inCLIMATE IN THE NEWS
UN calls for “funga” to be included in flora and fauna conservation language
Its time fungi gets included in conservation talks: UN Biodiversity is calling for fungus to be “recognised and protected on an equal footing with animals and plants in legal conservation frameworks,” the organization said last week. The UN is pushing for conservation institutions to include the word “funga” — a term coined by Latin American […]
Posted inCALENDAR
SEPTEMBER 2023 4-5 September (Monday-Tuesday): GCF Private Investment for Climate Conference, Nairobi, Kenya. 4-6 September (Monday-Wednesday): Sustainable Maritime Industry Conference, Jeddah, Saudi Arabia. 4-6 September (Monday-Wednesday): Africa Climate Summit, Nairobi, Kenya. 5-7 September (Tuesday-Thursday): Global Water, Energy and Climate Change Congress(GWECCC), Manama, Bahrain. 7-8 September (Thursday-Friday): Annual Regional Sustainability and Development Forum, Cairo, Egypt. 9-10 […]