Other business news from the weekend that we’re keeping an eye on:

  • Orascom Construction is distributing an interim dividend of USD 0.21 per share later this month.
  • The first public auction to sell stores in the new administrative capital’s third residential neighborhood (R3) launched last week, with 18 shops sold. The second auction will take place on 7 February.
  • Egyptian Chemical Industries (Kima) has completed its EGP 11.6 bn Kima 2 ammonia factory in Aswan which will have a production capacity of 1.2 tonnes per day of ammonia and 1.5k tonnes of granular urea.
  • Tenders to set up three commercial + logistics parks in Qalyubia will be offered to investors by the Supply Ministry’s Internal Trade Development Authority in 2021.
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