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By 2040, we’ll be lazy and individualistic, but never alone. Call us old-fashioned, but a Euromonitor International report on the consumer landscape in 2040 reads like a dystopian nightmare waiting to happen. Don’t believe us? Just watch an episode of Black Mirror, of which it is decidedly redolent. Technological innovation and constant connectivity are set to […]
Author Archives: enterpriseam admin
Posted inWorth watching
Is quantum computing really as groundbreaking as all that?
Is quantum computing really all that groundbreaking as all that? In a word, yes. Quantum computers have the power to solve certain kinds of particularly thorny problems in seconds, while today’s supercomputers would take thousands of years, the Economist says. And the prospect of being able to compute the formula for new fuel or medicine, […]
Posted inEnergy
Egyptian Electricity Holding launches USD 84 mn tender for two control centers
The Egyptian Electricity Holding Company (EEHC) has launched a tender for foreign companies to build two power transmission control centers at a combined cost of USD 84 mn (c. EGP 1.4 bn) in New Cairo and Nasr City, a company executive told Al Mal. The New Cairo center is expected to cost some USD 45 […]
Posted inEnergy
Egypt signs contract with Siemens to develop national electricity grid
Siemens AG will conduct a series of five-year studies on Egypt’s electricity distribution grid to “identify the feasibility of deploying different advanced energy technologies,” the company said in a press release (pdf). Under a contract with the Egyptian Electricity Holding Company (EEHC), Siemens will analyze and examine the grid to look at ways to integrate […]
Posted inInfrastructure
Egypt’s SCA, SCZone reach final agreement with UAE’s DP World for Sokhna JV
The Suez Canal Authority (SCA) and the Suez Canal Economic Zone (SCZone) have reached a final agreement with DP World on setting up a joint venture to develop 45 sqm in Ain Sokhna, SCA boss Mohab Mamish said at a press conference. The JV will be 49% owned by the UAE-based port operator and 51% […]
Posted inBasic Materials + Commodities
Egyptian Countryside Development Co in talks with unnamed US investor
The Egyptian Countryside Development Company is in talks with an unnamed US investor interested in acquiring land to cultivate berries as part of the 1.5 mn feddan project, CEO Ater Hanoura told Al Mal. A delegation from the company will be in town sometime in the near future to survey available land.
Posted inManufacturing
El Nasr fertilizers and Benchmark Power Int’l sign MoU for Suez ammonia factory
State-owned El Nasr Co. for Fertilizers & Chemical Industries signed an MoU with Benchmark Power International to build a USD 600 mn ammonia factory in Suez, Al Mal reported. The facility will have a daily production capacity of 1.2k tonnes, which will be doubled in the second phase. El Nasr will provide the land plot […]
Posted inManufacturing
El Sisi inaugurates large fertilizer complex in Sokhna
President Abdel Fattah El Sisi inaugurated a new phosphate and compound fertilizer manufacturing complex at the Ain Sokhna Industrial Zone yesterday, according to a local press report. The complex is said to be the largest in the Middle East and houses nine phosphate-based fertilizer factories. It contains a water desalination plant and a sea dock […]
Posted inReal Estate + Housing
Porto Group investing EGP 7.7 bn in Porto October
Real estate developer Porto Group is investing EGP 7.7 bn in its Porto October project west of Cairo, Chief Marketing Officer Dalia Kordy told Reuters.
Posted inTourism
Rixos, Eastern Co. for Investment sign agreement to renovate Hurghada hotel
Rixos Hotels has inked a partnership agreement with the Eastern Company for Investment and Tourism Development to “takeover and renovate an existing beachfront property” in Hurghada’s Makadi Bay, according to a press release (pdf). The property will be rebranded as an all-inclusive luxury resort and renamed Rixos Makadi Bay. The hotel is slated for inauguration […]