INFRASTRUCTURE-

Egypt, Russia to push ahead with Dabaa nuclear plant construction: Electricity Minister Mahmoud Esmat and Rosatom CEO Alexey Likhachev inked a protocol complementing their intergovernmental nuclear cooperation agreement, alongside a supplementary contract for Dabaa nuclear power plant’s construction and operation, according to a statement from the Electricity Ministry.

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The agreements came on the sidelines of a meeting between President Abdel Fattah El Sisi and Likhachev yesterday, which focused on the progress on Egypt’s first nuclear power plant, according to an Ittihadiya statement.

REMEMBER- Rosatom was contracted in 2015 to handle the construction and provide fuel for Dabaa, Egypt’s first nuclear power plant. The company broke ground on the USD 28.8 bn project in the summer of 2022. Dabaa will include four 1.2-GW reactors and is set to come online at the beginning of the next decade.

DEBT-

Gov’t eyes USD 1 bn in financing for CSCEC’s medical city: The Health Ministry is looking to secure USD 1 bn in financing from Chinese banks to finance the 230-fedan medical city that China State Construction Engineering Corporation (CSCEC) is set to build in the new capital, Asharq Business reports, citing sources with knowledge of the matter. CSCEC has reportedly finished designing the project and is set to kick off construction before year-end as the financing agreements are finalized.

REMEMBER- CSCEC inked an MoU last August to design and construct the planned medical city, which we first heard about back in March last year. The project will house around 300 clinics, research centers, central laboratories, a blood bank, among other services. It will have a total capacity of more than 4.2k beds.

AUTOMOTIVE-

#1- Kasrawy Group is now the exclusive agent for Chinese electric vehicle brand Avatr in Egypt, adding to the long list of brands under its umbrella, including Citroën, Jetour, and Iveco, according to a press release seen by EnterpriseAM. The first two Avatr models are scheduled to be launched in the local market in 4Q 2025 or 1Q 2026.

#2- MANEAST bags Soueast agency: The Mansour family’s new venture MANEAST has become the exclusive agent for Chinese Soueast vehicles in Egypt, Al Borsa reports.

RETAIL-

New retail media solutions coming to Carrefour: Majid Al Futtaim’s retail media network Precision Media partnered with ArabyAds’ retail media tech company Ritelo to roll out omnichannel advertising across Carrefour’s platform in Egypt and Saudi Arabia, according to a press release.

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