LOGISTICS-

Borg Al Arab is getting a new dry port: The Transport Ministry is in talks with GCC-based Al Ahmadiah Contracting & Trading to obtain the rights to set up, manage, and operate a new dry port in Borg Al Arab, General Authority for Land & Dry Ports head Sayed Metwally told Al Borsa. Ahmadiah is currently conducting final studies of the potential project and is slated to submit the final financial and technical studies next month.

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Egypt’s been looking for a suitor for some time: At least two players were tied to the project in 2023 and 2024, including Ocean Express Shipping, which signed an MoU with the authority back in August 2023 to explore developing the port, but no headway has been made since.

The new port is expected to handle some 120k containers annually — hauling about 6.7 mn tons of dry goods. It will offer storage and logistics areas that cover nearly 85k sqm.

DEVELOPMENT FINANCE-

Egypt lined up EUR 53.8 mn in funding from the French Development Agency and the European Investment Bank for the launch of a Green Sustainable Industries program, according to a joint statement. The funding will be provided under a concessional financing and grant agreement.

REMEMBER- The Green Sustainable Industries program is a EUR 271 mn, five-year initiative led by the Environment Ministry and managed by the Egyptian Environmental Affairs Agency to help factories cut emissions, boost efficiency, and meet global climate standards. The program offers concessional loans, grants, and technical assistance for sectors with high energy and resource consumption, like cement, steel, chemicals, and food processing.

A separate EUR 8.8 mn EU-funded technical assistance grant was also signed and will be managed by the European Investment Bank to provide expertise and capacity-building support for participating industries.

CAPITAL MARKETS-

CI Capital Holding’s CI Asset Management closed its new shariah-compliant gold investment fund Gold Misr with a subscription coverage of over 225%, according to a statement seen by EnterpriseAM. The company first opened subscriptions for the gold investment fund earlier this month. The fund invests in high-purity physical gold bullions, offering cumulative daily returns with a prizedraw system for investors at no subscription fees.

MANUFACTURING-

Packaging materials manufacturer Copack plans to set up an EGP 3 bn plant in a bid to raise its annual production capacity to 67k tons, Al Borsa reports. The expanded capacity will support the company’s export expansion into Europe and the US as it looks to boost exports beyond the current 25% of total output.

DEBT WATCH-

Drive secures EGP 5 bn loan: GB Capital’s subsidiary Drive Finance has secured a long-term syndicated facility of up to EGP 5 bn to support its expansion plans and growing client demand, according to a statement seen by EnterpriseAM. The loan was arranged by a six-bank syndicate that included the National Bank of Egypt, CIB, and the Arab African International Bank, Banque du Caire, Housing & Development Bank, and Emirates NBD Egypt.

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