INFRASTRUCTURE-

#1-Green data center incoming: A consortium including Swicorp Infra Capital (SIC), Income Egypt, and Record Digital Asset Venture will build, own, and operate a green data center in Egypt, under an MoU inked with the Communications Ministry, according to a cabinet statement. The data center will be powered by some 200 MWs of solar and wind energy and will export digital services to customers abroad.

#2- Safaga could get a USD 50 mn logistics area: The government plans to build a USD 50 mn logistics area behind the Safaga sea port to load and unload goods aboard the high-speed electric rail linking the Red Sea to the Mediterranea, Asharq Business reported, citing two government sources. The land plot for the project will be funded by the government, the sources said.

Remember: A consortium including Siemens Mobility, Orascom Construction, and ArabContractors is set to build the first line of the 1.8k-km national high-speed rail project that will link Ain Sokhna, Alexandria and Marsa Matrouh.

REAL ESTATE-

Palm Hills had a good 2023: Our friends at real estate developer Palm Hills Developments (PHD) have sold EGP 59.5 bn worth of property units over FY 2023, up 129% y-o-y, according to a bourse disclosure (pdf). PHD plans to invest EGP 15 bn in Egypt in 2024.

PRIVATIZATION-

World Bank delegation wraps up visit: A World Bank delegation arrived in Egypt last Tuesday for a multi-day visit in which it met with a number of government officials for discussions centered around the state ownership policy, the International Cooperation Ministry said in a statement. The delegation, alongside Egyptian officials, also discussed potential financing tools and programs that the bank could provide Egypt.

DEBT-

ADIB is cooking up an EGP 5.8 bn facility for Giza Systems: Abu Dhabi Islamic Bank (ADIB) is putting together EGP 5.8 bn worth of Sharia-compliant financing for local tech consultancy firm Giza Systems to help it repay outstanding loans and pivot towards a Sharia-compliant capital structure, Asharq Business reports, citing unnamed banking sources.

MINING-

Shalateen’s gold exploration tender gets a third deadline extension: State-owned Shalateen Mining Company has once again extended the deadline of its international gold exploration tender to 8 February to give companies more time to purchase the tender booklet and inspect auctioned sites, Al Masry Al Youm reports.

DEVELOPMENT FINANCE-

Intl’ Cooperation Ministry greenlights USD 19 mn grants from the Swiss government totalling USD 19 mn, to finance the second phase of the potable water management program in Upper Egypt and a sludge treatment project in Beni Suef, according to a ministry readout.

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