ENERGY-

Qalaa’s Wathba launches tender for fuel depots: Wathba Petroleum — a company jointly owned by Qalaa Holdings and the National Service Projects Organization (NSPO) — has launched a tender for the construction of six fuel depots near Qalaa’s flagship oil refinery, the Egyptian Refining Company (ERC), Asharq Business reported last week, citing a government official.

The details: The project will allow Qalaa to increase its diesel production — boosting the Cairo Oil Refining Company’s mazut production capacity, which ERC takes on as feedstock, allowing it to boost production as well. The construction of the fuel depots should be complete next year and is expected to cost around USD 60 mn.

Remember: ERC is planning to invest as much as USD 150 mn to ramp up production levels by 10% over the next three years, Qalaa Chairman Ahmed Heikal said in November.

EDUCATION-

Giza Systems, Nahdet Misr to support social startups: Giza Systems’ corporate social responsibility arm Giza Systems Foundation and Nahdet Misr’s VC arm Edventures have teamed up to support social startups — offering them training programs and one-on-one mentoring sessions to to ensure they are prepared to secure funds, according to a joint statement (pdf). The training aims to provide startups with “essential tools for investment readiness and investor matchmaking.”

FINTECH-

Contact Pay customers can now pay their installments via e-payments company Al Ahly Momkn— a subsidiary of the National Bank of Egypt’s investment arm Al Ahly Capital Holding — under an agreement inked between the two sides, according to a statement (pdf). Al Ahly Momken has over 90k points of sale across the country and over 5 mn users.

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