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The Egyptian Electricity Transmission Company signed an agreement with the International Finance Corporation that will see the latter provide consulting services for establishing a 600 MW solar energy station West of the Nile under a build-own-operate (BOO) scheme, the local press reports.
Author Archives: enterpriseam admin
Posted inEnergy
EETC receives new route for USD 2.5 bn Egypt-Saudi electricity project
EETC has received the details of a new route for the USD 2.5 bn Egypt-Saudi interconnection project, head Sabah Mashaly said. The original route for the power transmission lines had to be redrawn by the Saudis to avoid conflict with their USD 500 bn Neom city megaproject. Egypt’s government was waiting for construction to start […]
Posted inEnergy
NTPC eyes Egyptian solar energy market
Indian energy utilities giant NTPC is exploring investment opportunities in the Egyptian solar energy market according to statements from commercial director Ananda Kumar Gupta reported by the local press. NTPC also signed an MoU with Egypt-based energy project management company Kahromika to carry out all maintenance activities on behalf of the company.
Posted inBasic Materials + Commodities
Canal Sugar to sign three MoUs for investments worth USD 1 bn
Al Canal Sugar is expected to sign three MoUs with ElSewedy Electric, Saudi’s Alkhorayef Group and China’s Sinoma International Engineering to facilitate new projects worth USD 1 bn, reports Al Mal. Agreements with Al Kharafi will be in the area of irrigation, while Sinoma will oversee development of a new Minya factory and ElSewedy is […]
Posted inManufacturing
EGP 200 mn waste management factory for alternative fuel established in Suez
Environment Minister Yasmine Fouad inaugurated on Thursday Lafarge Group subsidiary Geocycle’s EGP 200 mn alternative fuel factory in Suez, Al Masry Al Youm reports. The facility is estimated to be the largest of its kind in the MENA region and is able to produce 400k tonnes of alternative fuel a year. The output will be […]
Posted inManufacturing
Gov’t excludes steel nail, wire producers from import tariffs on steel rebars, pellets
The Trade Ministry has excluded steel nail and wire producers from anti-dumping duties imposed on steel rebar and pellet raw materials, head of the Federation of Egyptian Industries’ steel processing division Ayman El Negooli said. This came after the division approached the ministry to inquire about the temporary, 180-day tariffs imposed on steel rebars (25%) […]
Posted inManufacturing
Pharma manufacturer El Arabeya to invest EGP 40 mn in FY2019-20
Pharma manufacturer El Arabeya expects to invest EGP 40 mn in FY2019-20 to develop and digitize production lines, according to statements from investor relations manager Mohsen Omar seen by Al Mal.
Posted inReal Estate + Housing
Heliopolis Housing to begin auctioning land in Sheraton next month
Heliopolis Company for Housing and Development will begin auctioning 44 of its land plots in Sheraton, Heliopolis on 2 May, Managing Director for Financial Affairs Sahar El Damati told reporters, according to the local press. El Damat did not offer further details on the expected profits from the auction. The company had said in a […]
Posted inTourism
Discovery of new saff tomb in Luxor announced on World Heritage Day
A new saff tomb, the biggest of its kind, has been discovered on the West Bank of Luxor, Ahram Online reports. The discovery was announced on Thursday, when a newly-restored 50-ton statue of Ramses II was unveiled at Luxor Temple.
Posted inBanking + Finance
CIB opens a commercial representative office in Addis Ababa
CIB has inaugurated a representative office in the Ethiopian capital Addis Ababa as part of its expansion plans in Africa, the bank said in a bourse filing (pdf). The office aims at strengthening relationships with Ethiopian banks, promoting Egyptian exports, and gaining market insight.