INVESTMENT-

Singapore chemicals outfit could invest in Egypt:Singapore-based chemical company Indorama has laid the groundwork for expanding its presence in Egypt after signing an MoU with the Sovereign Fund of Egypt (SFE), according to a cabinet statement yesterday. The firm is interested in exploring options in several sectors including fertilizer production, phosphate extraction, renewable energy and medical fibers, cabinet said.

Indorama’s owner already has operating assets in Egypt: Thailand-based sister company Indorama Ventures owns half of a plastic factory situated in the Ain Sokhna freezone that produces 540k metric tons of polyester a year.

Remember: There are currently three projects under consideration to set up fertilizer and phosphoric acid production facilities in Egypt’s so-called ‘Golden Triangle’, an area in the Eastern Desert that is rich in phosphates.

ENERGY-

EgyptAlum could be going greener: Orascom Construction and French electricity and renewables company Engie are in talks with the government to install solar power plants at two of Egypt Aluminium’s (EgyptAlum) production facilities, the Public Enterprises Ministry said yesterday. The plants would produce renewable power for the state-owned, EGX-listed company’s aluminum complex in Nagaa Hammadi and an upcoming aluminum plant in Safaga, according to the statement. The ministry didn’t disclose the size of the proposed plants, the value of the projects, or how much of EgyptAlum’s energy needs the plants would cover.

EDUCATION-

#1- 10 Egyptian universities are getting business centers with the help of US funding: Our friends at USAID are joining the Arab League and the Arab Academy for Science, Technology, and Maritime Transport to establish and upgrade entrepreneurship centers at 10 universities, the US embassy said yesterday. The centers “will provide student entrepreneurs with resources, mentoring, guidance, and training to help them generate new business ideas and grow their businesses,” according to the statement.

#2- valU to finance tuition fees at ElSewedy’s tech uni: Students planning to attend the soon-to-be-opened ElSewedy University of Technology (SUT) will be able to pay for tuition fees using installment plans provided by valU, the consumer finance firm said (pdf) yesterday.

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