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North Delta Electricity Distribution Company is planning to establish four new power transmission control centers by 2022 at a cost of more than EGP 3 bn, sources from the Electricity Ministry said, according to Al Mal. The state-affiliated company will arrange loans from local banks to finance the construction of a center in Damietta and […]
Author Archives: enterpriseam admin
Posted inEnergy
Wintershall DEA to begin natgas production at Raven field next month
Wintershall DEA will begin natural gas production from its Raven field in September, unnamed sources told Amwal Al Ghad. The field is expected to produce up to 900 mcf/d of natural gas, and between 20k to 25k bbl/d of condensates.
Posted inEnergy
Korea National Oil Corporation to step up investment in Egypt
Korea National Oil Corporation is looking to increase its investment in Egypt and raise crude production from 12k barrels per day currently, the Oil Ministry announced in a statement (pdf). CEO Su Yeong Yang said during a meeting with Oil Minister Tarek El Molla on Tuesday that the company is interested in bidding for new […]
Posted inEnergy
Gov’t to announce waste-to-energy tariff in coming days
The government will announce within days a new tariff of 140 piasters per kWh that it will use to purchase energy produced from waste, sources told the local press. The Electricity Ministry will pay 103 piasters per kWh and the Environment Ministry will pay the remaining 37 piasters. The tariff will remain in place for […]
Posted inInfrastructure
ACCH to finish deepening Dekheila deck in two years
Alexandria Containers & Cargo Handling is planning to complete the second phase of deepening a deck at the Dekheila Port in Alexandria in two years’ time, Chairman and Managing Director Mamdouh Draz told the local press.
Posted inManufacturing
EKH to add 700k sheet production line to Sprea Misr
Egypt Kuwait Holding (EKH) plans to add a new production line to its subsidiary, Sprea Misr, towards the end of 2019, according to government sources. The new line will have a capacity of 700k sheets.
Posted inManufacturing
AOI, Adtran sign agreement to supply fiber products to Egypt
The Arab Organization for Industrialisation (AOI) has signed an agreement with communications product provider Adtran to manufacture fiber products for Egypt and the region, Telecom Paper reports. The agreement is intended to help meet the increasing demand for gigabit broadband.
Posted inBanking + Finance
Al Marasem eyes Banque Misr to become lead arranger for EGP 2 bn Islamic loan
Real estate player Al Marasem International is in talks with Banque Misr to have it act as the lead arranger for a EGP 1.5-2 bn Islamic loan to fund its work in the new administrative capital, banking sources said, according to Al Mal. The state-owned bank approached a number of other local banks including Al […]
Posted inBanking + Finance
Inertia, BdC sign EGP 575 loan agreement for construction work
Inertia signed yesterday a five-year EGP 575 mn loan agreement with Banque du Caire, according to Reuters’ Arabic service. The money will be used to finance construction work at Inertia’s flagship project Jefaira North Coast, as well as other projects over the next two years. The company will have one year to repay the debt […]
Posted inOther Business News of Note
ElSewedy Electric signs EGP 308 mn transmission line contract with Canal Sugar
ElSewedy Electric for Trading and Distribution signed a EGP 308 mn contract to build a transmission line and internal network for Canal Sugar, the company said in a bourse filing (pdf).