RENEWABLES-

Arab Contractors subsidiary Nahdet Misr plans to build a USD 100 mn waste-to-energy plant in Qalyubia that will generate 62 MW of power per hour, Al Mal reports. About 54 MW will be supplied to the national grid. The facility will process 2k tons of waste daily and is set to be completed within three years in partnership with local and international firms.

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CAPITAL MARKETS-

Asset manager Evolve Investment Holding plans to launch four to five new gold investment funds in Egypt in partnership with financial institutions, provided it gets the go-ahead from the Financial Regulatory Authority, CEO Sameh Eltorgoman told Cairo Weekend’s Zeina Soufan (watch, runtime: 15:17). The move comes as demand for gold investment funds “has exceeded expectations,” the CEO said. The company currently manages EGP 3 bn in total assets through its four existing gold investment funds and expects this figure to reach EGP 10 bn by the end of 2026 with the launch of additional funds.

EXPANSION-

The National Bank of Egypt is looking into expanding its footprint in Saudi Arabia with several more branches to better serve its Saudi and Egyptian customers in the Kingdom, CEO Mohamed El Etreby told Asharq Business (watch, runtime: 1:08).

REMEMBER- The move follows the inauguration of the state-owned lender’s first branch in Riyadh earlier this month after obtaining the Saudi Central Bank’s approval to operate in the kingdom.

REAL ESTATE-

#1- Madinet Masr launched its EGP 11 bn residential project Elm Tree Park, with expected sales of around EGP 20 bn, the company said in a statement (pdf). The 476k sqm project housed in its Sarai development will include 2.2k residential units — including apartments, villas, and townhouses. The developer also introduced flexible payment plans starting at EGP 5.1k per month to attract a wider customer base.

#2- Our friends at Somabay inked an agreement with construction firm EDECS to carry out the construction of the second phase of its marina expansion, according to a press release (pdf). The expansion aims to boost the marina’s area by 72.1k cubic meters, expand its capacity to 260 yachts, and enhance infrastructure and visitor facilities.

NBFIS-

Valu has renewed its partnership with Amazon Egypt, offering financing solutions for Amazon shoppers, according to a statement. “Through this renewed collaboration, Valu and Amazon aim to provide access, convenient service, and tangible value for their customers,” Valu CEO Walid Hassouna said.

DEBT WATCH-

Emirates NBD extended over EGP 20 bn in credit facilities to Elsewedy Electric to fund its expansion plans in Egypt, Saudi Arabia, and the UAE, according to a statement from the banking group. The financing, arranged by Emirates NBD teams across the three markets, will back Elsewedy’s regional projects in power, manufacturing, and infrastructure.

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