PRIVATIZATION-

Al Ezz Dekheila cleared for delisting: The EGX’s listing committee has approved the delisting of the shares of steelmaker Al Ezz Dekheila Steel, according to an EGX disclosure (pdf) yesterday. Al Ezz Dekheila shareholders earlier this month approved the voluntary delisting of the steel manufacturer from the EGX, alongside a plan to buy the 31% stake in the company previously owned by the government.

REMEMBER- Al Ezz Dekheila plans to retire all of the freefloat shares acquired from the government, leaving parent company Ezz Steel with almost full ownership of the now-private company — and potentially 100% control depending on how many minority shareholders decide to sell their shares. Ezz Steel is extending a payment guarantee worth up to USD 250 mn to finance the voluntary delisting of its subsidiary.

INFRASTRUCTURE-

The SCZone just put a price on the new East Port Said port terminal: The new 900-meter multipurpose terminal being developed by Sky Logistics and Reliance Logistics at East Port Said port will attract USD 565 mn of investment, SCZone Chairman Walid Gamal Eldin told Asharq Business yesterday. President Abdel Fattah El Sisi this week ratified a decision awarding the contract to the consortium. A pharma factory will be established in the SCZone in Sokhna with investments worth USD 100 mn, Gamal Eldin told the news outlet, without providing further information (watch, runtime: 1:05).

COMMODITIES-

GASC scraps int’l corn tender: Egypt’s state grain buyer GASC has canceled an international tender for yellow corn due to the higher prices offered by bidders, Reuters reports, citing reports by traders. The deadline for offers was scheduled for yesterday and shipments were set for 1-15 October and 15-30 October.

TECH-

Microsoft partners with gov’t to fast track digital transformation: Microsoft inked an MoU with the cabinet’s Information and Decision Support Center to train its employees and help integrate AI into its operations, cabinet said yesterday.

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