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German consultant Lahmeyer International will complete next month feasibility studies for UAE’s Masdar and the New and Renewable Energy Authority’s 200 MW, USD 250 mn wind farm, sources said, without providing specific details on the project. Unnamed Arab funds and foreign banks have agreed to provide USD 150 mn in financing, the sources added.
Author Archives: enterpriseam admin
Posted inInfrastructure
Arab Contractors seeks to grow African business volume
Egypt’s Arab Contractors plans to increase its African business volume to EGP 1 bn (USD 57.2 mn) in 2019, according to Mubasher. The construction and contracting company reportedly has a strategic plan to expand at the regional level by executing infrastructure projects in multiple African states, such as Tanzania and Côte d’Ivoire.
Posted inInfrastructure
Egypt’s NACCUD in talks with France’s EDF for electric systems in new capital
The New Administrative Capital Company for Urban Development (NACCUD) is in talks with Électricité de France (EDF) to sign a 10-year partnership to develop and manage the city’s electrical power system, NACCUD boss Ahmed Zaki Abdeen said, according to Amwal Al Ghad. Developing utilities in the new capital is estimated to come at a cost […]
Posted inBasic Materials + Commodities
Delta Sugar Company looks to boost sugar beet production
The Delta Sugar Company hopes to boost sugar output to 310k tonnes this year compared to 270k in the previous season, board chairman Ahmed Abu Al-Yazid tells Reuters. This comes with as the area allocated for sugar beet cultivation in Egypt has increased to 600k feddans, up from 485k in 2018, as the government aims […]
Posted inManufacturing
Four new projects in Ismailia with USD 6.7 mn investments
The Ismailia governorate has approved four new projects in its freezone with total investments of USD 6.7 mn, MENA reported. The projects will manufacture products in a variety of sectors including textiles, clothing, home appliances, and medical equipment.
Posted inReal Estate + Housing
Beta Egypt to invest EGP 1.5 bn in 2019 into new projects
Real estate developer Beta Egypt for Urban Development has announced it will invest EGP 1.5 bn this year into two projects in 6 October City and El Mostakbal City, according to Mubasher. The first phases of development in each location were launched in 2015 and 2017, respectively.
Posted inAutomotive + Transportation
Transport minister discusses digital payments with Visa
A delegation from Visa Inc. discussed with Transport Minister Hisham Arafat cooperating on developing the infrastructure necessary to digitize payments in the Egyptian transportation sector, according to a ministry statement.
Posted inAutomotive + Transportation
Transport Ministry to receive offers on Alamein-Sokhna high-speed rail
The Transport Ministry expects to receive technical and financial offers next month for the high-speed rail connecting Alamein and Ain Sokhna via 6 of October, Minister Hisham Arafat said, according to the local press. According to the minister, 10 out of 23 consortiums have qualified for the tender.
Posted inBanking + Finance
CIB to arrange USD 80 mn loan to Qalaa’s ERC
CIB is arranging a USD 80 mn loan to Qalaa Holdings’ Egyptian Refining Company (ERC) with a tenor of one year, unnamed sources told Reuters’ Arabic service. ERC is a major public private partnership (PPP) megaproject led by Qalaa, and is scheduled to come online later this year.
Posted inOther Business News of Note
Egyptian-Russian company to manage the USD 7 bn RIZ to be set up in April
An Egyptian-Russian company will be set up in April to operate and manage the planned USD 7 bn Russian Industrial Zone (RIZ), Suez Canal Authority boss Mohab Mamish said in a statement. The Suez Canal Economic Zone and the Russian authority for exports will also set up a joint committee to oversee the project, Mamish […]