ASWAN HIGH DAM , HYDRO PLANTS GETTING AN UPGRADE: German firm Siemens Energy will rehabilitate three hydropower plants at the Aswan Hydropower Company — the High Dam, Aswan I and Aswan II, under an EGP 1.77 bn contract. Siemens Energy will upgrade the power transformers at the plants to extend their lifespan to no less than 40-50 years and add some 300-MW to Egypt’s grid. (Pressrelease, pdf).

MINERALS FROM SALT WATER: A Chinese company has submitted a proposal to the Madbouly government to extract minerals from desalination plants’ wastewater, which could raise some USD 120 mn annually if exported. (Cabinet statement)

BIG INVESTMENT IN UNIVERSITIES: The Madbouly government has set a target of increasing the number of universities in Egypt to 132 by 2030 from the current 92. The expansion will come with a EGP 250 bn price tag, EGP 150 bn of which could come from private sector investments. (Statement)

The government wants private education to make up at least 40% of the country’s market for education services, from its current 25%.

FAISAL BANK WANTS MORE OF GIG-EGYPT: Faisal Islamic Bank is reportedly in talks with the National Bank of Egypt and Banque Misr to purchase their combined 16% stake in ins. firm Gig-Egypt for EGP 100 mn. The transaction would up Faisal Islamic Bank’s stake in the insurer to 25.2% from 9.2%. (Al Shorouk)

CHINESE INTEREST IN DELTA STEEL? A Chinese investor reportedly wants a 30% stake in state-owned Delta Steel, in an agreement that would see the unnamed suitor cough up some EGP 200-300 mn. The government is reportedly looking to sell up to 40% of the company and a number of local players are interested. (Al Borsa)

CATALYST CAPITAL TO INVEST IN PHARMA COMPANY: Impact investment fund Catalyst Capital plans to acquire a minority stake in a local pharma company in mid-January for up to EGP 120 mn. (Al Borsa)

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