LOGISTICS-

#1- DP World breaks ground on Sokhna logistics park: Emirati port operator DP World has broken ground at its USD 80 mn DP World-Sokhna Logistic Park at Sokhna Industrial Zone, according to a Suez Canal Economic Zone (SCZone) press release. The 300k square-meter project looks to provide services to local and regional logistics, commerce, and distribution sectors, bolstering supply chains and trade. The first phase of the project is slated for completion by the close of 2024 and will require USD 50 mn of investment. DP World inked the construction agreement for the investment with the SCZone in August 2022. The zone will create 600 jobs.

#2- South Korean firm to develop Gargoub industrial zone + port: South Korean trading company STX Corporation will work with the government to upgrade Gargoub port near Marsa Matrouh and establish an industrial-logistics zone in the area, the Transport Ministry said yesterday.

A big project aimed at boosting Egypt-Europe-Africa trade: Described by the ministry as “an integrated economic, industrial, development and agricultural zone,” the plan involves establishing an industrial zone, a logistics center featuring a container terminal, and an oil pipeline connecting Libyan fields to the port, as well as residential and tourist areas. The ministry didn’t disclose STX’s specific roles in the project.

INFRASTRUCTURE-

Raya to upgrade Telecom Egypt data hub capacity: Raya Holding’s IT arm Raya Information Technology will help expand the capacity of Telecom Egypt’s regional data center under a contract signed between the two companies yesterday, according to the Communications Ministry. The company will work on the second phase of the project, which will expand its capacity to 7.1 MW, the ministry said. The center is located in Smart Village and opened in 2021.

Raya is doing some heavy lifting: Raya IT will design and build new data centers and power infrastructure, in addition to supplying cooling, fire suppression, and industrial safety systems.

That’s not all: The company plans to eventually expand capacity to 16.3 MW, according to the statement.

ENERGY-

Fresh funds for green projects:The Environment Ministry has received USD 12 mn from the multilateral environmental fund Global Environment Facility (GEF) to help fund four renewable energy and green hydrogen projects, Minister Yasmine Fouad told AlMal. The selected projects, which were picked by the GEF from 44 proposals submitted by the government, will be announced soon.

AVIATION-

More flights between Egypt and the UAE: Hungarian airline Wizz Air is planning to offer daily flights between Giza’s Sphinx International Airport and Abu Dhabi, according to Al Mal. The budget carrier currently operates four flights a week between the two cities.

PHARMA-

Rameda is out with a new diabetes med: Rameda Pharma has launched a new type 2 diabetes med called Gliptalina, it said in a press release (pdf) yesterday. It is expected to generate more than EGP 20 mn in revenues for the company in the first year.

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