LOGISTICS-

The Suez Canal’s EGP 9 bn southern expansion has been completed, Suez Canal Authority head Osama Rabie said yesterday. The 10 km expansion will improve navigation through the canal by 28%, he told Lamees El Hadidi (watch, runtime: 14:15).

AUTOMOTIVE-

Could the local manufacture of Mitsubishi vehicles be imminent? A delegation from Japan’s Mitsubishi will soon visit Egypt as the company looks into locally manufacturing its vehicles in Egypt, unnamed sources from the Industry Ministry told Al Mal. The automotive giant is currently mulling its options — taking on the project on its own or in partnership with a local player.

We had an idea this was happening: Earlier this month, Al Mulla Group said it is in talks with Mitsubishi to localize the manufacture of its vehicles in Egypt.

ENERGY-

Lukoill awarded South Wadi El Sahl concession: Russian energy giant Lukoil will invest USD 22.5 mn to drill six exploratory wells in the South Wadi El Sahl oil concession west of the Gulf of Suez after it was awarded the concession, unnamed sources told Al Mal.

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