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Egypt, Italy sign EGP 70 mn wastewater project financing agreement: The Investment Ministry signed a EGP 70.5 mn agreement with the Italian government on Thursday to finance the third phase of a wastewater project in Minya, the ministry said in a statement. The funding comes as part of a EUR 300 mn debt swap agreement, […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egyptian Poultry Association calls for ban on poultry imports
Egyptian Poultry Association meets with Agriculture Ministry officials to discuss ban on poultry imports: The Egyptian Poultry Association (EPA) announced yesterday that it had met with Agriculture Ministry officials to call for a freeze on all imports of poultry to support local businesses, according to a statement picked up by the local press. Falling poultry prices […]
Posted inDiplomacy + Foreign Trade
Egypt, South Sudan to set up working group to direct oil sector cooperation
Egypt, South Sudan to set up working group to lead oil sector cooperation: Oil Minister Tarek El Molla and his South Sudanese counterpart Hamada Hato agreed during a meeting yesterday to form a joint working party of oil and gas experts to direct cooperation in the field in the near future, according to an Oil […]
Posted inEnergy
Schlumberger, TGS to undertake 3D reimaging project in off Egypt’s Red Sea coast
Oilfield services company Schlumberger and energy information company TGS are undertaking a 3D reimaging project in the Red Sea, TGS announced in a statement. The project will involve reimaging data from three overlapping seismic surveys covering 3.6k sqkm made between 1999 and 2008. All legacy seismic and non-seismic data will be integrated and advanced imaging […]
Posted inEnergy
ENPEDCo, EGPC ink agreements for Western Desert oil and gas exploration
The Egyptian National Petroleum for Exploration and Development Company (ENPEDCo) and the EGPC signed two agreements to explore oil and gas in the Western Desert last week, the Oil Ministry said in a statement (pdf). The companies intend to invest at least USD 4 mn to drill four exploratory wells in the Abu Sennan and […]
Posted inManufacturing
Egypt’s SMEs investor associations to issue tender specifications next week
The federation of SME investor associations will issue next week the tender booklets for land to be offered in a 600-factory SMEs complex, federation managing director Yasser El Saka said. The factories will be specialized in ready-made garments, processed foods, medical supplies, and mechanical products.
Posted inReal Estate + Housing
Downtown Tanta’s first phase inaugurated on Thursday
Supply Minister Ali El Moselhy inaugurated on Thursday the first EGP 2 bn phase of the Downtown Tanta project, which includes Tanta Mall and Matrix Sporting Club, according to the local press. This is part of a bigger EGP 6 bn logistics zone project that will include a center and a commercial hub between Gharbia […]
Posted inTourism
Japan could grant USD 750 mn loan for Grand Egyptian Museum
Egypt may secure a USD 750 mn loan from the Japanese government to fund technical support for the Grand Egyptian Museum after it opens next year, according to Mubasher.
Posted inAutomotive + Transportation
Egypt signs MoU with China’s Geely to locally produce electric cars
The National Organization for Military Production on Friday signed an MoU with China’s Geely Company to manufacture electric cars in Egypt, an official statement said without revealing any details. Military Production Minister Mohamed El Assar had also met on Thursday with the Chairman of China’s Ankai Automobile Company to talk cooperating in the joint production […]
Posted inBanking + Finance
Most Suez Canal certificate holders reinvest returns, Egyptian banks say
Most holders of Suez Canal certificates of deposit (CDs) reinvested their returns into other savings products after the CDs matured on Thursday, Banque du Caire Chairman Tarek Fayed told MENA. The Suez Canal Bank began paying clients as their certificates matured but most people preferred to re-invest, said Chairman Hussein Refaai. The National Bank of […]