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July: The National Railway Authority will launch a tender for the purchase of 100 new locomotives expected to be financed through an agreement with the European Bank for Reconstruction and Development (EBRD). 25 July (Thursday): US Secretary of Energy visiting Cairo. 28 July-02 August (Sunday-Friday): Fab15 Conference and Graduation Ceremony, TU Berlin, El Gouna, Egypt. […]
Author Archives: enterpriseam admin
Posted inWhat We're Tracking Today
What we’re tracking on 24 July 2019
Good morning, folks, and welcome back to the second half of our shortened work week. We should find out today whether the IMF’s executive board will sign off on disbursing the final USD 2 bn tranche of our USD 12 bn loan. Egypt reached a staff-level agreement with the IMF back in May after the […]
Posted inEnterprise+: Last Night’s Talk Shows
Oil and gas news occupy Egypt’s airwaves last night
Oil and gas updates from Eni and a cursory mention of the World Bank visit occupied the nation’s talking heads last night. Eni ramps up production: News that Italy’s Eni has begun oil production from its West Meleiha concession in the Western Desert earned some airtime on Al Hayah Al Youm (watch, runtime: 1:34). We […]
Posted inSpeed Round
EGX boss sees two private companies, one state-owned company IPOing this year
IPO WATCH- Two private companies, one state-owned company expected to IPO this year -Farid: EGX boss Mohamed Farid expects one state-owned company and two private companies to complete their initial public offerings this year, he told the local press. Farid did not say which companies he sees making their EGX debuts or provide any further […]
Posted inSpeed Round
Germany’s Wintershall DEA looking to invest USD 800 mn in Egypt through 2020
INVESTMENT WATCH- Germany’s Wintershall DEA is looking to invest USD 800 mn in Egypt through 2020, Oil Minister Tarek El Molla said on Monday at a joint press conference with the company’s Chairman and CEO Mario Mehren. Newly merged Wintershall DEA plans to increase production from its Desouk field to 100 mcf/d by the end […]
Posted inSpeed Round
United Oil & Gas looks to acquire Rockhopper Egypt for USD 16 mn
M&A WATCH- United Oil & Gas wants to buy Rockhopper Egypt for USD 16 mn: Irish energy company United Oil & Gas has proposed to Rockhopper Exploration that it acquire Rockhopper’s Egypt business for USD 16 mn, the company said in a statement. Rockhopper Egypt owns a non-operating 22% interest in the onshore Abu Sennan […]
Posted inSpeed Round
Eni begins oil production at West Meleiha concession; makes new oil, gas discoveries
Italian energy company Eni has begun oil production from its West Meleiha concession in the Western Desert at a rate of 5k bbl/d, it said in a statement. Production is expected to reach 7k bbl/d by September 2019. West Meleiha is 50%-owned by Eni’s IEOC and 50% by state-owned Egyptian General Petroleum Corporation (EGPC). Eni […]
Posted inSpeed Round
Brilliance to invest USD 120 as it returns to Egypt assembly
EXCLUSIVE- Brilliance Auto to invest USD 120 mn to return to domestic assembly: Brilliance Bavarian Auto is planning to invest USD 120 mn to use the existing facilities of its parent company — BMW’s Bavarian Auto Group (BAG) — to begin assembling its China-origin cars by early 2020, Brilliance’s general manager and head of the […]
Posted inSpeed Round
Egypt’s first EGP 1 bn fintech fund to launch early 2020
Egypt’s first fintech fund to launch early 2020: The Central Bank of Egypt’s (CBE) EGP 1 bn fund to back fintech startups will be up and running at the start of next year, banking sources tell Al Mal. Several unnamed international and local institutions will invest alongside the CBE in the fund, which will focus […]