INFRASTRUCTURE-

#1- Elsewedy Electric, Al Kharafi to build new transformer stations: The government has awarded contracts to construct two transformer stations to Elsewedy Electric and a subsidiary of Kuwaiti conglomerate Al Kharafi Group, Asharq Business reports, citing Atter Hannoura, who heads the Finance Ministry’s PPP unit. Under the contracts, Elsewedy will establish a station at New Alamein and Al Kharafi will construct one at Tenth of Ramadan City. This is part of the government’s EGP 7 bn project to establish nine transformer stations in partnership with the private sector. Hannoura did not disclose the value of the contracts.

ICYMI- The news comes a few days after the European Bank of Reconstruction and Development (EBRD) said it is considering providing up to EUR 165 mn in financing to the government to upgrade the country’s electricity grid.

#2- Schneider Electric x Suez Canal Authority: Schneider Electric has signed a contract with the Suez Canal Authority to carry out maintenance work on the electrical and control systems in the three tunnels under the canal, it said in a press release (pdf) last week.

FINANCE-

Emirates NBD x Al Ahly Tamkeen: Emirates NBD Egypt will provide a EGP 200 mn loan to the National Bank of Egypt’s microlending unit Al Ahly Tamkeen to help it expand its loan portfolio, it said in a statement (pdf) yesterday.

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