LOGISTICS–

Fertiglobe is laying the groundwork to increase ammonia, urea exports from Egypt: MENA fertilizers firm Fertiglobe — a JV between Adnoc and the Sawiris-owned OCI —signed a non-binding MoU with Abu Dhabi Ports to explore opportunities for storing and shipping urea and ammonia at ports in Egypt and the UAE, it said in a statement (pdf) on Monday. The partnership also aims to enable Fertiglobe to ship and store green ammonia.

Fertiglobe will soon be producing green ammonia in Egypt: The company is working with Orascom Construction and Scatec to establish Egypt’s first-ever green hydrogen plant. Powered by solar and wind energy, the plant will send around 15k metric tons of hydrogen a year which will be used as feedstock to produce 90k metric tons of ammonia annually at Fertiglobe’s existing facility.

ICYMI– The ADQ-owned company has been pushing aggressively into Egypt’s maritime logistics industry. Under an agreement signed earlier this year, AD Ports was granted wider access to terminals and logistics facilities at a number of Egypt’s key ports — including Ain Sokhna, Port Said and Safaga — and signed a 30-year concession agreement to develop and operate a container terminal at Safaga Port. It has also been reported to be interested in acquiring controlling stakes in the state-owned operators of the Port Said and Damietta container terminals.

FINTECH -

eCards x Network International : E-Finance’s digital cards subsidiary eCards and Dubai-based fintech firm Network International have signed an agreement to join forces to expand smart banking card services in the Middle East and Africa, the state-owned fintech player said in a bourse filing (pd f) yesterday. The collaboration will see eCards handling the production and customization of the cards, while Network will oversee card processing, according to the statement.

Remember: Network International last month announced plans to invest EGP 1 bn in expanding its POS network in Egypt and rolling out its newly launched payment platform Network One.

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