Egypt tenders 128-km transmission line to plug in El Dabaa

Egypt launched an international tender for a 128 km, 500kV transmission line to connect the El Dabaa Nuclear Power Plant to the national grid at an estimated cost of EGP 4.5 bn (c. USD 86.5 mn), the Arabic press reports, citing an unnamed government official. Slated for completion by 3Q 2027, the new line serves as the final piece of the facility’s off-site transmission package, complementing two 220kV lines scheduled to be finished this June.

Why this matters: The transmission line is the critical last-mile link needed to convert construction progress into actual electricity supply. At full capacity, El Dabaa’s four 1.2 GW reactors will cover 12% of the country’s electricity needs by 2030 and reduce natural gas consumption by at least 7 bcm annually — a much-needed money saver.

REFRESHER- Rosatom was contracted back in 2015 to handle the construction and provide fuel for Egypt’s first nuclear power plant. The company broke ground on the USD 28.8 bn project in the summer of 2022. Trial operations are expected by end-2027, with the first unit’s commercial operations scheduled for September 2028.

LNG buying may stretch into 4Q

The Madbouly government is mulling importing 30 additional LNG cargoes for delivery in 4Q 2026 at an estimated cost of USD 1.6-1.8 bn, Al Arabiya reports, citing an unnamed government official. The shipments — each carrying around 150k cbm — will be staggered throughout the last three months of the year. The US will serve as the primary supplier alongside Mauritania and Qatar, with LNG prices currently running at USD 18-20 / mmBtu, up from the USD 12 / mmBtu average seen earlier this year.

IN CONTEXT- The potential 4Q purchase points to LNG becoming a regular part of the country’s gas balance — not just an emergency cover — as local production weakens and demand rises. We reported in April that the government was lining up 40 LNG cargoes for May and June, after which it added six more June cargoes. The government has been leaning more on US supply after securing a USD 4 bn LNG supply agreement with Hartree Partners.

Waking up the Golden Triangle

A contract to develop a 6 mn sqm industrial zone in Safaga is expected to be signed within two months, the Arabic press reports, citing Mohamed Ibrahim, the General Authority for the Golden Triangle Economic Zone’s deputy head. A new Chinese investment in the phosphate industry — featuring a dedicated solar power plant — will also be announced within three months.

IN CONTEXT- The wider Golden Triangle is moving from a long-running development pitch to an active industrial buildout, bolstered by a regulatory framework that grants the region the same investment incentives as the Suez Canal Economic Zone. The pipeline already includes a USD 2 bn phosphate extraction and a downstream chemicals hub from China’s Xingfa, along with an integrated industrial and logistics zone in Safaga under an MoU with Elsewedy Industrial Development.

The logistics leg: Export infrastructure to support these projects is also starting to come online, with trial operations kicking off earlier this week at the USD 200 mn Safaga 2 multi-purpose terminal. The facility gives the port much-needed capacity to move output from Upper Egypt and the Eastern Desert into global export markets.

Beltone’s big asset push

Beltone Holding’s subsidiary Beltone Asset Management wants to grow its funds to around EGP 60 bn by year-end, up from more than EGP 50 bn currently, the Arabic press reports, citing Beltone Holding’s Head of Local and Regional Markets Khalil El Bawab. The company plans to launch two funds before the end of June — an IPO-focused fund and an equity fund — followed by six more in 2H 2026 across equities, shariah-compliant products, and a real estate fund focused on commercial buildings.

REMEMBER- Beltone had already flagged the pipeline in March, when El Bawab told us the firm had at least five funds lined up for launch between 2Q and 3Q. The updated plan lands as investment funds become a more meaningful savings channel, with the industry hitting EGP 411 bn in net asset value by end-1Q 2026, up 30% in a single quarter.

ADCB joins the funds foray

Abu Dhabi Commercial Bank Egypt (ADCB Egypt) tapped our friends at EFG Hermes to launch its first mutual fund in the local market, according to a statement (pdf). Zayed Kol Youm is a money market fund offering daily cumulative returns and daily subscriptions and redemptions, giving the bank’s clients a low-risk, liquid money-management product. ADCB is also working to make the fund available through its website and mobile app.

Why it matters: The fund marks ADCB’s first step into the local mutual fund market and kicks off what the bank and EFG Hermes say could become a broader partnership across other asset classes. It also lands in the deepest corner of Egypt’s fund market, where money market funds accounted for 67% of the industry’s EGP 411 bn in net asset value at the end of 1Q 2026. For EFG Hermes, the partnership aligns with its ongoing strategy to widen retail access to managed products, having recently made five mutual funds directly available to retail investors through its EFG Hermes One app.