INFRASTRUCTURE-

The Suez Canal has successfully tested a new 10 km lane in the southern section of the waterway, according to a statement from the Suez Canal Authority. The trial saw the passage of two ships through the new stretch. The extension increases the length of the canal’s two-way section to 82 km — up from 72 km. “The extension is set to enhance navigational safety, reduce the impact of winds and currents, and raise the canal’s capacity by an additional 6-8 vessels daily,” Suez Canal Authority head Osama Rabie said.

The news also caught the attention of the foreign press: Reuters.

MANUFACTURING

NERIC to set up railway industrial complex: The National Egyptian Railway Industries Company (NERIC) is establishing an industrial complex for railway manufacturing in the East Port Said industrial zone, according to a statement from the Investment Ministry. The complex is 60% complete, with the start of production pencilled in for July. The complex will hace two production lines — one for metro cars with 35-40% local components and another for railway cars with 65% local content — whose output will serve both the domestic market and export to regional markets, particularly in Africa.

EXPANSION-

Raya’s Aman eyes Saudi Arabia expansion with consumer finance venture: Raya Holding’s fintech arm Aman has partnered with Saudi retailers Jarir Bookstore and Al Manea under a strategic partnership to establish a consumer finance company in Saudi Arabia, according to a company statement (pdf). The venture aims to provide tailored financial solutions to individuals and entrepreneurs in the Saudi financial market.

What they said: “This collaboration represents a significant step in Aman’s regional expansion strategy, enhancing our presence in one of the region’s most dynamic financial markets. Through this partnership, we aim to deliver innovative and effective financial solutions that address the needs of individuals. This initiative will contribute to enhancing financial inclusion and supporting sustainable economic growth. We are confident that this partnership will serve as a successful model for strategic collaboration,” Aman Holding CEO Hazem Moghazi said.

ENERGY-

Oil Ministry rejects reports Eni has delayed plans to up Zohr field production: The Oil Ministry refuted recent media reports claiming that the Italian energy giant Eni had pushed back plans to ramp up its drilling operations in the Zohr gas field at beginning of this month to May 2025 because of unstable weather, according to a ministry statement. A drilling ship is set to arrive at the offshore field later this month to start work on increasing production, Reuters reports, citing comments from the Oil Ministry.

TELECOMS-

Telecom Egypt expects offers for tower sale in early 2025: Telecom Egypt plans to sell 2.5k telecom towers in an agreement valued at USD 200-250 mn, expecting offers by early 2025, informed sources told Asharq Business.

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