LOGISTICS-

Local agrifood company Capital Agro launched a USD 25 mn integrated logistics complex in Sharqia for frozen food storage, according to a press release. The 30k sqm facility, set to hold an operational capacity exceeding 30k pallets, will operate using renewable energy. It includes large-scale cold storage units, as well as washing, sorting and packaging lines for fruits and vegetables. The company will invest USD 15 mn before the year is out and the remaining USD 10 mn by 2027.

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This marks the second big cold storage project announced in as many months after DP World and Elsewedy Industrial Development announced that they will set up a USD 29 mn cold storage facility in 6th of October last month.

What is cold storage and could it be the future of Egypt’s storage industry? We dove into the topic in a Hardhat published earlier this year — check it out here.

MANUFACTURING-

#1- Chinese smartphone maker Oppo officially kicked off production at its Tenth of Ramadan factory as part of a USD 50 mn investment plan that will create 2k jobs, according to a company statement (pdf). The facility produces 400k units per month with plans to expand to 500k units in early 2026. Oppo also plans to raise the local component ratio in its Egypt-assembled phones, up from a current 42%.

DATA POINT- Egypt now manufactures some 15 brands of mobile phones, with a combined production capacity of 20 mn phones a year, backed by USD 200 mn in investment.

#2- Rubex International will dedicate one of its production lines to produce bathtubs for Turkish bathroom fixture manufacturer Sanica under a cooperation contract inked with the Fatinoglu Holding subsidiary, Rubex said in a EGX disclosure (pdf). Output will be exported, helping raise Rubex’s export revenues by at least USD 350k per month in 2026.

M&A WATCH-

#1- Egypt Kuwait Holding’s board of directors greenlit selling its entire 63.4% stake in Delta Ins. to Casablanca-listed Wafa Assurance, according to an EGX disclosure (pdf). Wafa’s mandatory tender offer values Delta shares at EGP 40 per share, and shareholders have until tomorrow to render their holdings.

REFRESHER- The liquid MTO is live at EGP 40 per share for up to 125 mn Delta shares (100% of the company), with a minimum acceptance threshold of 51%. This values the transaction at up to EGP 5 bn and gives Wafa a pathway to either majority or full control of the company. Wafa submitted the MTO to the FRA in June.

#2- The UAE’s Amlak Finance sold its Egypt arm to Al Baraka Bank Egypt for EGP 400 mn, according to a disclosure (pdf) to the Dubai Financial Market. The move marks Amlak’s complete exit from the country.

ENERGY-

Energean inked a 15-year transmission agreement for Israel’s Nitzana pipeline to Egypt, the LSE-listed oil and gas company said in a statement (pdf). Under the agreement with the state-owned Israel Natural Gas Lines, the company will supply 1 bcm a year and cover USD 100 mn — or 16.4% — of construction costs.

REAL ESTATE-

Hills Development, PRD to develop EGP 50 bn worth of projects: Intro Group’s Hills Developments has inked a strategic partnership agreement with Protection Holding ’s PRD to develop five real estate projects with total investments of EGP 50 bn by 2030, according to an announcement made during a press conference attended by EnterpriseAM. The two sides will set up a joint venture to implement the projects.

The two players are well acquainted — they are gearing up to launch their EGP 4.5 bn Zia Park project in early November. The development covers 17.1 feddans in Sheikh Zayed, offering 800 units.

DEBT WATCH-

Madkour Holding’s Madkour Projects secured a EGP 4.5 bn syndicated loan from a group of lenders led by the Suez Canal Bank, according to a statement from the parent company. The funding will be used to finance infrastructure development on Suez Road. Al Baraka Bank, Industrial Development Bank, United Bank, Bank ABC, Abu Dhabi Commercial Bank, and the Egyptian Arab Land Bank were also part of the syndicate.

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