The state’s Egyptian Countryside Development Company (ECDC) signed a contract with agriculture investor Go Green to establish a water desalination plant near the Western Desert’s Al Magrah Lake, according to a company statement picked up by Amwal Al Ghad. The plant, on which construction has already kicked off, is set to treat 700k cbm of water a year (200 cbm a day). The project is part of ECDC’s work on the Sisi administration’s initiative to reclaim 1.5 mn feddans of desert land for agricultural use. The story provides no further details on the contract.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Can AI promise Egypt’s lenders more borrowers and fewer bad loans?
Banks are cautious about letting AI judge a borrower. Local…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…