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Oil Minister Tarek El Molla discussed US investments in Egypt’s energy sector and the regional energy hub strategy with US Secretary of Energy Rick Perry on the sidelines of the gathering of senior energy officials at CERAWeek in Houston, according to a ministry statement. El Molla also held talks with the leaders of ExxonMobil, Chevron, […]
Author Archives: enterpriseam admin
Posted inEnergy
Greek energy investors eye Egypt’s renewables sector
A delegation of Greece-based energy investors have expressed interest in establishing wind and solar energy projects in the Red Sea and Minya areas, the domestic press reports. This came during a meeting with Electricity Minister Mohamed Shaker and Arab Women Investors Union head Hoda Yassa.
Posted inEnergy
Canada’s Giant Oil Tools to provide services for Egyptian oil and gas concessions
Canada’s Giant Oil Tools has won 10 contracts in a tender to provide petroleum services and well-drilling equipment for Egyptian oil and gas concessions, company sources said, according to Amwal Al Ghad. The company entered the Egyptian market in 2017 after it began working with Agiba Petroleum.
Posted inBasic Materials + Commodities
Egypt to boost rice cultivation to 1.1 mn feddans
The Agriculture Ministry is planning to increase rice cultivation this year to 1.1 mn feddans, up from 800k feddans last year, in a bid to reduce Egypt’s reliance on imports, Minister Ezz El Din Abou Steit said, according to Al Watan. Egypt used to produce some 4.3 mn tonnes of rice a year, but the […]
Posted inBasic Materials + Commodities
Egypt’s cotton exports rise 75% y-o-y this season to 1.4 mn qintars
Egypt’s cotton exports have so far seen a 75% y-o-y increase to 1.4 mn qintars this season, compared to 800k qintars in the same period last year, Cotton Exporters Association chief Nabil El Santrissi said. The increase came in response to higher global demands from the largest importers, including India, El Santrissi added. The cotton […]
Posted inOther Business News of Note
Egypt receives offers to develop pyramids sound and light show area
The Sound and Light Cinema Company (SLCC) has received offers from Chinese, Indian, German, and Italian companies to develop the exhibition area near the pyramids, Chairman Sameh Saad told Youm7. The company is now drawing up the tender conditions so it can begin receiving official offers. A JV between Orascom Investment Holding and Prism International […]
Posted inOther Business News of Note
Misr Trade and Investment begins assembly of Whirlpool washing machines
Misr Trade and Investment has started assembling Whirlpool washing machines locally after a EGP 150 mn investment in a new factory, according to statements from chief executive Ashraf Omran reported by the local press. Target sales for the year between March 2019 to March 2020 are EGP 450 mn, with an expected output of 25k […]
Posted inOther Business News of Note
AOI signs cooperation protocol with Sudan defense industry group
The Arab Organization for Industrialization (AOI) has signed a cooperation protocol with Sudan’s Defence Industry Group (DIG) to boost ties in railway development, energy, electronics, among other fields, Al Mal reported. The agreement came in light of talks between AOI Chairman Abdel Monem El Taras and a Sudanese delegation visiting Cairo headed by DIG Executive […]
Posted inEgypt Politics + Economics
Court jails 27 policemen for labor strike
Egypt’s highest appellate court upheld three-year prison sentences against 27 policemen for staging a strike in 2017 against a decision to reduce their vacations, according to the official MENA news agency. Another 13 officers were acquitted in the same case,
Posted inNational Security
Egypt arms imports grow 206% in five years
Egypt has retained its position as the world’s third largest arms importer, with its imports having tripled between 2009–13 and 2014–18 (an increase of 206%), according to data recently released by the Stockholm International Peace Research Institute (SIPRI). Major suppliers include the US and the UK, with Russia, France and Germany having also “dramatically increased” […]