THE RACE IS ON FOR RAIL CONTRACT: Five international firms — including Chinese rail firms CRIG and CRRC, Siemens, Alstom, and Thales — have reportedly qualified for a USD 400 mn tender to install the signaling and control systems for the Cairo-Alexandria freight railway bypass. (Asharq Business)

ACUD LOOKS TO RESTRUCTURE AHEAD OF IPO — its HR systems, policies and procedures, and org chart, that is. The Administrative Capital for Urban Development (ACUD) said in a statement (pdf) last week that it has hired Jobmaster ahead of its planned listing on the EGX. ACUD Chairman Khaled Abbas said last month that the company could raise more than EGP 150 bn via a public share sale on the EGX, which he said could take place as soon as 2Q 2024. The company, a joint venture between the military and the Housing Ministry, could offer 5-10% of its shares on the bourse.

COP WATCH- Emirati sustainability firm Beeah Group will develop solid waste management infrastructure in the new capital under a contract signed with the Environment Ministry at COP28. (Environment Ministry statement)

TE GETS A TELLING-OFF: Telecom Egypt has been fined EGP 20 mn by regulators after a tech blip caused internet disruption for several hours across the country last week. The firm has handed out 10 GB in compensation to each of its users. (NTRAstatement, pdf)

BIG WHEAT BUY- GASC has purchased 420k tonnes of Russian wheat for delivery in January. The state grain buyer purchased 180k tonnes of Russian and Ukrainian wheat last week.(Reuters)

A SWEETENER FOR RATION CARD HOLDERS- The Supply Ministry is making sugar available to ration card holders again in a move aimed at easing the impact of spiking sugar prices on vulnerable households. (Supply Ministry statement)

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