ENERGY-

#1- Honeywell will support the state’s planned USD 530 mn sustainable aviation fuel(SAF)production complex in Alexandria under a technology licensing agreement, which will see the US multinational conglomerate provide its expertise to produce SAF “to the highest international standards,” according to a statement from the Oil Ministry. The Oil Ministry-led project via its Sustainable Aviation Fuel Production Company aims to produce 120k tons of SAF from the collection of used cooking oil and reduce carbon emissions by 400k tons a year.

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REMEMBER- Honeywell has been eyeing the project since 2023, initially mulling a public-private partnership with state-run entities and local private companies. The following year, it partnered with the European Bank for Reconstruction and Development to complete a feasibility study for the project, before dropping out of the news cycle once again.

#2- Cheiron’s Pico Petroleum and the Egyptian General Petroleum Company will invest at least USD 30 mn to drill four new wells in the Gulf of Suez’s East Gemsa offshore area under an agreement inked between the two that includes a USD 1 mn signing bonus, according to a statement from the Oil Ministry.

EXPANSION-

#1- Could we start seeing more Egyptian projects in KSA? Oil Minister Karim Badawi is in Saudi Arabia on an official visit aimed at boosting Egyptian participation in the Kingdom’s energy and infrastructure projects, according to a statement. During a meeting with representatives from the Public Investment Fund-owned Neom Company, the two sides touched on cooperation in green hydrogen, petrochemicals, sustainable building materials, and clean energy technologies.

#2- Private investment group Intro Group is planning to expand into Saudi Arabia’s real estate market, Chairman Ayman Abbas told Asharq Business. The company is also looking to grow its oil services business beyond drilling and explore green projects, including plastic recycling. Meanwhile in Egypt, Intro plans to build a 100-room boutique hotel near the Grand Egyptian Museum.

AUTOMOTIVE-

Golf karts are exempt from personal car import rules that limit individuals to one car every five years, according to a decision from the Investment Ministry seen by EnterpriseAM. Karts are used within gated compounds and resorts and, as such, are considered distinct from vehicles used on public roads, according to the decision.

STARTUP WATCH-

Egypt-born, Saudi-based social e-commerce platform Taager entered the Moroccan market, launching operations in Casablanca as part of its regional growth plan, according to a press release. The move targets Morocco’s growing e-commerce market, where Taager aims to make online selling more accessible for young entrepreneurs.

This marks the company’s first expansion into North Africa, following its presence in Egypt, Saudi Arabia, and the UAE.

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