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Italy’s Eni will begin test operations on the Zohr natural gas field’s 13th well next week, industry sources tell the local press. The well is expected to produce an average of 150-250 mcf/d, and Eni will reduce output from other wells in the field to avoid a supply glut.
Author Archives: enterpriseam admin
Posted inEnergy
Waste-to-energy tariff to be ratified by gov’t within two weeks
The tariff for waste-to-energy tariff projects will be ratified by the cabinet within the next two weeks, Environment Minister Yasmin Fouad told the local press. The value of the tariff will be dependent on the USD exchange rate to attract domestic and foreign investment in the sector, Fouad said, without explaining how the tariff will […]
Posted inManufacturing
Egyptian textiles producer MardiniTex to invest EUR 2 mn next year to up output
Textiles manufacturer MardiniTex is planning to invest EUR 2 mn in mid-2020 to increase its production capacity to 300k meters per year, owner Maamoun Mardini told the local press. The company’s investment plan involves upgrading machinery and expanding an existing production facility. MardiniTex earmarks some 75% of its output for exports to European and Asian […]
Posted inManufacturing
Egypt’s AOI in talks with Opel for domestic EV manufacturing
The Arab Organization for Industrialization is in talks with Opel to manufacture electric vehicles (EVs) in Egypt, Chairman Abdel Moneim Al Terras said. Al Terras previously announced talks with several other EV manufacturers, including Toyota, to set up shop here. The plan to manufacture EVs domestically comes alongside a government initiative to replace outdated state-operated […]
Posted inReal Estate + Housing
Polaris Parks signs contracts with three companies for Sadat City industrial zone
Polaris International Industrial Parks has signed contracts with three multinational and local companies to invest in the first phase of a new industrial zone in Sadat City, Assistant Manager Bassel Shoeira told Amwal Al Ghad. The company aims to begin developing the land plots within the coming three months, he said. Polaris is also in […]
Posted inTourism
Archaeologists dig up temple ruins from Ptolemaic Egypt in Sohag
An Antiquities Ministry archaeological team has unearthed in Sohag the ruins of a temple that could have belonged to Ptolemy IV, the fourth pharaoh of Ptolemaic Egypt, according to a ministry statement. The ruins were discovered while drilling for a sewage drainage project, which has been suspended until the archaeological team completes the temple’s recovery.
Posted inTourism
Palm Hills completes two hotels in Egypt’s North Coast
Palm Hills has completed two boutique hotels in its Hacienda White and Hacienda Bay resorts in Sahel at a cost of EGP 300 mn, the real estate developer said in a press release (pdf). The Mazeej hotel in Hacienda White includes 34 rooms and four suites, while Hacienda Bay's Le Sidi hotel offers 28 suites. […]
Posted inTelecoms + ICT
Communications Ministry, French companies to launch entrepreneurship competition
The Communications Ministry is launching an entrepreneurship competition this month designed to create healthcare, fintech, and smart city systems and solutions, a ministry official told the local press. The competition, which runs until February, will be sponsored by unnamed French companies. The initiative comes a week after Communications Minister Amr Talaat visited France for talks […]
Posted inTelecoms + ICT
Telecom Egypt to install fiber optic cables in Shorouk
The Shorouk City Authority signed a cooperation protocol with state-owned landline monopoly Telecom Egypt to install fiber optic cables, according to Mubasher. The project will be carried out in two phases, but it remains unclear how long the phases will take to complete.
Posted inBanking + Finance
Banque Misr joins responsible banking initiative, signs e-payment protocol with Alex Port
Banque Misr has signed on to join 130 banks worldwide to begin implementing the Principles of Responsible Banking launched under a United Nations Environment Program (UNEP) initiative, according to Al Shorouk. The initiative, which sets principles in accordance with Sustainable Development Goals, aims to develop economies and encourage financial institutions to “align [their] business strategy […]