The Egyptian navy launched its second locally-built Gowind class corvette on Sunday from the Alexandria Shipyard (ASY), Defence Web reports. The small coastal patrol warship, Al-Moez, contains French military technology, acquired from France’s Naval Group. Egypt ordered four Gowind vessels in 2014 as part of a EUR 1 bn contract which stipulated that three would be built in Egypt. The first locally produced Gowind corvette, Port Said, was launched in September 2018.
More from Enterprise
Israel’s Arkia Airlines moves flights to Egypt’s Taba to bypass wartime airspace restrictions
Israel’s Arkia shifts some flights to Egypt as airspace tightens…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Private capital hasn’t frozen in MENA — but the exit playbook could change if the war drags on
PE and VC-backed companies were already pivoting to local exchanges…
Telda moves into investing with zero-fee stock trading
Telda claims users can sell a position and immediately spend…