ENERGY-

Emirati firm Dana Gas has collected USD 21 mn in receivables from Egypt in 1H 2024, receiving 64% of its dues for the period, it said in its latest earningspresentation(pdf). Its trade receivable balance in Egypt stood at USD 60 mn at the end of the period, up from USD 57 mn at the end of the first quarter.

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Remember: The government had cleared USD 1.3 bn worth of arrears to foreign oil and gas companies operating in the country at the end of June.

RENEWABLES-

A new Masdar wind project may soon be in the works: The Electricity Ministry is close to inking an agreement with Emirati state-run renewables giant Masdar to build a 200 MW wind farm, a government source told Enterprise. The proposed project will cost USD 180 mn and be developed under a build-own-operate model with the Egyptian Electricity Transmission Company as the offtaker for all the electricity produced.

We might have heard of this project before: While it is not clear where the wind farm will be built, another wind farm with the exact same capacity that will also sell its power to the national grid is being planned by Masdar with Infinity Power in Ras Ghareb. That’s not where the similarities end, with our source telling us that negotiations with unnamed banks are ongoing, much like the Ras Ghareb project which is close to securing a USD 64.7 mn senior loan from the European Bank for Reconstruction and Development.

** Read the full story on EnterpriseAM UAE.

INFRASTRUCTURE-

We’re one step closer toward completing our power linkup with Saudi Arabia: The installation of the first transformer at a station that’s part of the Egypt-Saudi electricity interconnector has commenced, according to a statement by the Electricity Ministry. The transformer, which is being installed at a 500 kV station in Badr City, is reportedly “the first of its kind in the Middle East in terms of size, manufacturing technology, [and] operation,” the statement reads.

Remember: The USD 1.8 bn Egypt-Saudi electricity interconnection was reported to be 60%complete last month. The 3-GW project will reportedly be completed in two phases, with the first 1.5 GW phase set to go live in July 2025 before the second phase comes online in early 2026.

REAL ESTATE-

\#1- AlQamzi + Rebuillion: Engineering, construction, investments, and development firm Rebuillion is set to build the second and third phases of Egyptian-Emirati real estate firm AlQamzi Developments ’ Eastshire project in the Fifth Settlement under an EGP 700 mn contract inked by the two parties, Al Mal reports. Rebuillion is slated to deliver the two phases in a year’s time.

In detail: Rebuillion will build 178 buildings, including 10 standalone villas and nearly 168 townhouses.

#2- Real estate developer Nile Developments plans to invest EGP 2 bn this year on a number of projects in the new capital and New Cairo, Chairman Mohamed Taher told Al Mal.

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