LOGISTICS-

#1- PPPs a plenty: The Transport Ministry has tasked the Finance Ministry’s public-private partnership (PPP) unit to prepare feasibility studies for three PPP projects at the Dekheila Port, a government source told Enterprise. The projects include a multi-purpose container terminal with an estimated cost of USD 300 mn, a dry port, and an industrial-purpose pipeline extension whose cost has not yet been determined, the source said.

The port’s development is almost halfway there: The Dekheila Port development plan has reached 45% completion, our source said.

ICYMI: The Alexandria Port Authority was last month reported to be gearing up to hand over the Dekheila dry bulk terminal, along with two other maritime terminals, to local and foreign operators before the end of the year. The 300k square meter dry bulk terminal was reportedly to be awarded to a consortium of three local firms, which were said to invest some USD 50 mn in the first phase of the project.

#2- Logistics hub project for Cairo International Airport in the cards? Chinese state-owned construction firm and China Energy subsidiary Gezhouba Group proposed establishing a “logistics cargo city” at Cairo International Airport during a meeting with the Aviation Ministry, according to a ministry statement . The statement did not provide any concrete details about the proposal, but said it would strengthen Egypt’s position as a logistics hub regionally and internationally, particularly in light of growing demand for air cargo services.

AUTOMOTIVE-

Le Mans plans to inject EUR 50 mn of over the next five years: Egyptian luxury auto importer Le Mans is targeting EUR 50 mn in new investments into the Egyptian market over the next five years, the company said in a press release (pdf). The company aims to invest in “new car showrooms, maintenance centers, and ambitious plans to grow in the transportation, shipping, customs clearance, and hybrid and EV import sectors,” with plans to open three new showrooms and two new maintenance centers this year.

GOVERNANCE-

Citibank Group is helping us strengthen macroeconomic policy: Officials from Citibank yesterday presented the government with proposals for macroeconomic policies during a meeting with Planning and International Cooperation Minister Rania Al Mashat. The bank highlighted potential priority areas and reviewed mechanisms for supporting macroeconomic stability, managing state-owned enterprises, attracting foreign investment, and accelerating the transition to renewable energy.

POLICY-

Gov’t forms committee to support startups: Prime Minister Moustafa Madbouly issued a decision to form a committee that aims to support the startup ecosystem in a bid to accelerate economic growth and job creation, according to a cabinet statement. Dubbed the Entrepreneurship Ministerial Group, the committee will be chaired by the Planning and International Cooperation Minister Rania Al Mashat and include several ministers and key representatives of government bodies.

What will the new body do? The committee will propose policies and legislation to support the entrepreneurial ecosystem, help startups access international markets and expand globally, and leverage startup solutions to address challenges in different sectors, among other tasks.

COMMODITIES-

#1- Our Ukrainian wheat shipment attacked: Ukrainian President Volodymyr Zelensky said viaTelegram that Russia had attacked a cargo ship in international waters carrying around 5-20k tonnes of wheat from Ukraine to Egypt on Thursday. The ship reportedly belonged to private Egyptian firm El Bostan and isn’t affiliated with any government entities, a government source reportedly told Asharq Business.

#2- More wheat incoming: State grains buyer GASC purchased 430k tons of Russian wheat last week at USD 235 per ton, according to a Supply Ministry statement. The wheat was bought in a direct purchase from Russian grain trader United Grain Company and is slated for an October shipment, according to what sources told Reuters. The purchase brings the country’s strategic wheat reserves to a level equivalent to 6.1 months of consumption, a few months behind our nine-month target.

Remember: The government is looking to capitalize on a global dip in prices as it looks to bolster strategic wheat reserves amid geopolitical tension. President Abdel Fattah El Sisi reportedly personally ordered GASC’s biggest ever tender in August after he received an intelligence briefing that raised concerns over our food security. The massive tender fell short of its target, with GASC purchasing 280k tons of the 3.8 mn tons it aimed to buy.

MANUFACTURING-

Beyti to begin making cheese: Dairy and juice producer Beyti will add cheese to its line of products with plans to inaugurate an EGP 1 bn cheese production line “soon,” according to a statement from the Agriculture Ministry. The announcement came during a meeting between Agriculture Minister Alaa Farouk and Beyti CEO Mark Wyllie last week, where the two talked up the potential of boosting the dairy maker’s investment in the country.

** Wyllie was our Manufacturer of the Month earlier this year. Read the interview here.

CAPITAL MARKETS-

CI Capital to launch five new equity investment funds with combined value of EGP 50 mn: CI Capital Asset Management plans to launch five sectoral equity investment funds with a total value of EGP 50 mn before year-end, the company said in a press release (pdf). The funds will focus on the real estate and building sector, the financial and fintech sector, the consumer sector, tech and telecom, and the export sector, with the company expecting the value of the funds to reach up to EGP 250 mn within a year.

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