Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Egypt signed seven cooperation agreements and MoUs with German companies yesterday, the cabinet said in a statement. Prime Minister Moustafa Madbouly also met with German Railways’ chief Richard Lotus to discuss the challenges that the sector is facing in Egypt, according to a separate cabinet statement. The PM and several of his ministers also met […]
Author Archives: enterpriseam admin
Posted inEnergy
SDX discovers oil at Rabul 7 well
SDX Energy has made an oil discovery at its Rabul 7 well in the West Gharib concession, the company said in a statement. “The well was drilled to a total depth of 5,323 feet and encountered approximately 134 feet of net heavy oil pay across the Yusr and Bakr formations.” SDX has also connected the […]
Posted inEnergy
Sidpec buys land for new propylene and polypropylene plant expansion
Sidi Kerir Petrochemicals Company (Sidpec) has signed the final contract to purchase a land plot from Alexandria Fiber Company to expand its new propylene and polypropylene plant, the Oil Ministry said in a statement. The value of the contract was not disclosed. We reported last October that Sidpec was in talks with local banks for […]
Posted inEnergy
BP to link 250 mcf/d of natural gas from Giza, Fayoum fields to production this week
BP will link this week 250 mcf/d to the production from North Alexandria’s Giza and Fayoum fields, an EGAS source told the local press. The two fields’ total production capacity this month is about 680 mcf/d, its highest level since it began producing in February. The two fields consist of eight wells in the Mediterranean.
Posted inBasic Materials + Commodities
Aton discovers two new mining prospects at its Abu Marawat concession
Canadian mining firm Aton Resources has discovered two new gold mine prospects at Safaga South and Wasif in the company’s Abu Marawat concession in the eastern desert, according to a statement out last week. Preliminary sampling has returned positive results after the company identified “ancient mining settlements” at both prospects. Aton Sandstorm Gold signed last […]
Posted inBasic Materials + Commodities
Cotton & Textile Industries starts EUR 1 bn modernization program
State-owned Cotton & Textile Industries Holding Co has kicked off a EUR 1 bn government-funded restructuring program under the supervision of US-based Werner International, Textile Worldreports. The program seeks to modernize Egypt’s textile industry to improve its competitiveness and help it regain its position as a major regional sourcing hub. Program costs will include new […]
Posted inManufacturing
Egypt’s IDA to offer investors 280k sqm of industrial land in Hurghada by the end of July
The Industrial Development Authority (IDA) will tender next month 280k sqm of industrial land plots in Hurghada, said Salah El Gamal, investment director at the Red Sea governorate. The plots will be allowed to accommodate all but environmentally damaging industrial activities, El Gamal said. The number of land plots on offer is yet to be […]
Posted inHealth + Education
Egypt to launch its first IT school with IBM
The Education Ministry has signed an MoU with IBM Egypt to launch the country’s first specialized IT school, following the universally recognized P-Tech model, the cabinet said in a statement. Sixty high school graduates will be able to enroll in the school in the first round this coming school year.
Posted inTourism
HOTAC to accept tender offers for Shepheard Hotel in July
The Holding Company for Tourism and Hotels (HOTAC) aims to begin accepting tender offers from companies hoping to renovate Shepheard Hotel in July after it amended the booklet of conditions, Chairman Mervat Hataba said. The government has reversed a decision to set up a JV to develop the hotel and decided instead to contract a […]
Posted inOther Business News of Note
Egypt’s Ibnsina raises issued capital to EGP 205 mn via bonus shares
Ibnsina Pharma has increased its issued capital to EGP 205 mn from EGP 180.5 mn by issuing EGP 24.5 mn-worth of bonus shares, according to an EGX disclosure (pdf).