TRANSPORT-

EIB money for rail line?The government is in talks with the European Investment Bank (EIB) over a potential USD 300 mn loan to finance the construction of the Robeiky-Tenth of Ramadan-Belbeis freight and passenger railway line, Al Mal quotes a source at the Egyptian National Railways as saying. The railway line is expected to transport some 1 mn tons of goods a year. The railway received a EUR 40 mn loan from the European Bank for Reconstruction and Development last year.

M&A-

Madinet Masr acquires Minka: Madinet Masr has completed its EGP 200 mn acquisition of Minka Development and EgyCan for Real Estate Development, a special purpose vehicle, the company said in an EGX disclosure (pdf) yesterday. A fair value study in 2021 valued Minka and EgyCan at EGP 232 mn.

LOGISTICS-

#1- MSC’s Medlog to finalize contracts for Tenth of Ramadan dry port in mid-August:MSC cargo subsidiary Medlog could ink an agreement with the government for the design, construction, operation, maintenance, and financing of the Tenth of Ramadan dry port and logistics center in mid-August, Al Mal quotes Atter Hannoura, the director of the Finance Ministry's PPP unit, as saying.

ICYMI- We reported in June that a consortium led by Italy’s Mediterranean Shipping Company (MSC) snagged the bid to establish and operate the 250-feddan Tenth of Ramadan dry port, according to an Egyptian Transport Ministry statement. The dry dock aims to serve the industrial area in Badr, Ain Sokhna, East Port Said, the new capital and the Tenth of Ramadan.

^^ Read the full story in Enterprise Logistics.

#2- Three new freezones incoming? The General Authority for Freezones and Investment (GAFI) is looking to set up three freezones in Alexandria, Tenth of Ramadan, and the Sixth of October, GAFI head Hossam Heiba saidyesterday.

ENERGY-

Green methanol bunkering: Coming to the Suez Canal in four years. The Suez Canal Economic Zone (SCZone) is looking to roll out green methanol bunkering services before 2027, Al Mal quotes SCZone chief Walid Gamal El Din as saying. The SCZone is looking to expand the scope of its bunkering services in the near future, he added, indicating that the authority has received hurried requests for services to supply ships with green methanol and gas.

Reminder: Egypt is getting the first green methanol plant in the region soon. Norway’s Scatec and Alexandria National Refining & Petrochemicals Company (ANRPC) inked a USD 450 mn agreement in May to establish a green methanol plant in Damietta. The facility is slated to start off producing 40k tons of green methanol a year, before being scaled up to 200k tons.

^^ Read the full story in Enterprise Logistics.

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