DEBT-

EBRD weigh backing Masdar-Infinity wind farm: The European Bank for Reconstruction and Development (EBRD) is mulling over extending a USD 71.7 mn senior loan to finance a 200 MW wind farm in Ras Ghareb developed and operated by the UAE’s Masdar and Infinity Power, according to the lender’s project description. The USD 214.8 mn project will sell electricity to the national grid under a long-term power purchase agreement.

MANUFACTURING-

Simplex to open a new factory next year: Local industrial machinery manufacturer Simplex is planning to open its EGP 100 mn factory in Tenth of Ramadan City in May 2025, the company’s CEO Ahmed Shaaban told Al Mal. The new factory will ramp up the company’s production of CNC machines 150 units a month, up from its current volume of 40 units a month, Shaaban explained.

CNC machines? A CNC machine — short for computer numerical control machine — is a computer-controlled piece of machinery used in industry to cut and shape materials. CNC machines are good at dealing with complex and precise designs and repetitive tasks, making them an important tool in the manufacture of high-precision parts.

TRADE-

An accelerator to boost exports: State-run lender Banque Misr inked a cooperation protocol with the USAID’s Trade Reform and Development in Egypt (TRADE) program yesterday, to set up the Egypt Export Accelerator, in a bid to improve trade and ramp up investments, by backing local exporters, according to a press release (pdf). The accelerator is poised to improve Egyptian companies’ competitiveness in foreign markets by helping them diversify their export products and facilitate access to financing and entry to international markets.

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