MANUFACTURING-

#1- Cement producer Titan Egypt plans to invest EGP 3 bn through 2026 to expand its production capacity and use of alternative fuels, CEO Amr Reda told Al Borsa. The company plans to bring its total production capacity to 5.5 mn tons next year, up from the current 4.5 mn tons generated from its two plants in Beni Suef and Alexandria.

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It’s also planning to increase its alternative fuel use to 70% of total consumption by 2030, up from a current 40%, to reduce costs and cut carbon emissions. It is also targeting 1 mn tons in exports by next year, nearly double last year’s 550k tons.

#2- Egyptian Steel plans to invest just short of EGP 2 bn starting next year to expand and modernize its steel production facilities, Abdel Fattah Siam, general manager of the company’s Alexandria plant, told Al Arabiya. The steelmaker will fund a part of the 18-month investment plan from its own capital, and the remainder through bank loans — possibly split evenly between both.

The company will build a new lime plant to support its steel production, upgrade existing production lines, and add machinery to older lines at its Port Said and Alexandria plants. It aims to bring its production capacity to 1.7 mn tons next year, up from 1.2 mn tons projected for this year, and raise exports from 7% to 30% of output by 2027, targeting Europe and Africa.

REGULATION WATCH-

FRA mandates digital data link for fund managers: The Financial Regulatory Authority (FRA) has issued a decision requiring all investment fund management companies to set up the technological infrastructure needed to electronically link their databases with the FRA’s central system, according to a statement from the regulator. Companies have a six-month window — starting 5 November — to comply with the new mandate, and once the integration is complete, it will allow investors to track real-time fund prices through the I Invest platform.

EXPANSION-

Concrete Plus wants to expand in Saudi Arabia: Local construction player Concrete Plus is eyeing three projects in Saudi Arabia worth SAR 700-800 mn, with execution timelines of up to three years, CEO Tarek Youssef told EnterpriseAM. The company is also on the lookout for potential investments in Libya and other African markets.

DEVELOPMENT FINANCE-

The UN Adaptation Fund is considering providing USD 8 mn in financing to Egypt to support sustainable development and climate adaptation projects, according to a report (pdf) issued by the fund. The projects — implemented through an Egyptian executing entity — are currently in the final stages of approval.

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