Trial runs for the first Egyptian Navy Gowind 2500 corvette launched this month by French defense manufacturer DCNS reportedly stalled due to “minor propulsion issues,” Quwa reports. ENS al-Fateh, set for delivery by year-end, is one of four Egypt ordered in 2015 as part of a EUR 1 bn contract under which three of the ships will be constructed in Egypt.
More from Enterprise
Banks set for acquisition rush as CBE scraps 40% ownership cap for financial companies
The CBE will by extension see its oversight of these…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Egypt looks to restart privatization push with five new EGX filings
Egypt is looking to temporarily list 20 state-owned companies this…
Telda moves into investing with zero-fee stock trading
Telda claims users can sell a position and immediately spend…