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The trial launch of the Egypt-Sudan electricity grid interconnection project is scheduled to begin by early 2020, Electricity Minister Mohamed Shaker told Hapi Journal. Electricity Ministry spokesperson Ayman Hamza had recently said that the project is expected to go live by the end of this year.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
No rice imports needed during current fiscal year -Moselhy
Egypt has sufficient rice reserves and will not need to import rice during the current fiscal year, Supply Minister Ali El Moselhy said yesterday, according to Reuters. An official at the Federation of Egyptian Industries forecast last month that production would surge 140% this year to 6 mn tonnes. This came after the Agriculture Ministry […]
Posted inManufacturing
Samir & Aly to inaugurate USD 10 mn first phase of Badr City factory this week
Stationery house Samir & Aly will this Tuesday inaugurate the first phase of its USD 35 mn office and school supplies factory in Badr City, sales manager Ahmed Abdel Fattah told the local press. The first phase of the factory has cost USD 10 mn, while the USD 25 mn phase will be partially financed […]
Posted inReal Estate + Housing
Egypt approves six new contracts for NAC ‘Green River’ project
The Madbouly Cabinet has agreed to contract six companies to develop the “Green River” project in the new administrative capital (NAC), a Housing Ministry official told Al Shorouk. The companies are: Orascom Construction, Talaat Moustafa Group, Arab Contractors, Hassam Allam Sons, Redcon Construction and Petrojet. The New Urban Communities Authority had awarded Al Marasem an […]
Posted inTourism
Egypt’s tourism ministry to implement new criteria to determine hotel star rating
The Tourism Ministry will begin implementing a new system to determine hotel star ratings based on feedback from hotel guests, as well as assessments from ministry employees and a Spanish hotel rating company, Chamber of Tourism Establishments board member Tamer Nabil said, according to Al Shorouk. The new approach will also see the ministry distinguish […]
Posted inAutomotive + Transportation
Manufacturers call on gov’t to shelve plans to replace tuk tuks with minivans
A number of automotive industry figures are calling on the government to shelve plans to phase out tuk tuks and replace them with minivans, according to the local press. More than USD 15 mn in investments in feeder industries are at risk if the government goes ahead with the plan, VP of the Automotive Feeding […]
Posted inBanking + Finance
Palm Hills to issue EGP 300 mn of securitization bonds
Palm Hills is planning to issue around EGP 300 mn of securitization bonds to pay off part of its debts owed to banks, unnamed banking sources tell Al Shorouk. Banque Misr and the Arab African International Bank will manage the issuance.
Posted inBanking + Finance
El Sewedy Capital plans expansion of non-banking financial services
El Sewedy Capital is looking to add financial leasing and microfinancing to its non-banking financial services, and establish an insurance company, said board member Abdel Rahman El Sewedy. The company has already been granted a license to offer financial leasing services, which it is expected to launch this year, he said. The expansion is timed […]
Posted inOther Business News of Note
Gov’t launches trial version of online platform to support agri trade
The Agriculture Ministry and state-owned payments platform e-Finance have launched a trial version of AgriMisr.com, an online platform designed to facilitate trade in the agricultural sector, e-Finance said in a statement picked up by Al Shorouk. The platform, which is scheduled to fully launch in 1Q2020, will serve as an online marketplace for agriculture equipment, […]
Posted inEgypt Politics + Economics
Egypt announces names of 6.3k Nubians eligible for displacement compensation
A total of 6,350 Nubians have been determined as being eligible for compensation for having been displaced from their homes following the High Dam’s construction, Parliamentary Affairs Minister Omar Marwan said, according to El Watan. Reports had emerged earlier this year that President Abdel Fattah El Sisi has instructed his administration to carry forward a […]