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UN supports us getting aid for refugees: UN High Commissioner for Refugees Filippo Grandi pledged to campaign for Cairo to receive more bilateral development aid to support its efforts in hosting refugees at a press conference on Monday, following his meeting with President Abdel Fattah El Sisi, at the end of his two-day visit to […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Bashir thanks Egypt for supporting Sudan’s stability
Bashir thanks Egypt: Sudanese President Al Bashir made a point of thanking Egypt, along with Ethiopia and Chad, for what was termed in Ahram Online “their support for his country’s security and stability.” In a speech given in South Darfur on Monday, Al Bashir said that the three countries had sent high-level delegations to back […]
Posted inEnergy
SDX announces Gulf of Suez oil find
SDX Energy has discovered an oil pay in the South Ramadan concession located in the Gulf of Suez, the company said in a press statement (pdf). Field operator Pico reported that the SRM-3 well encountered a total 120 feet of net conventional oil pay. It isn’t yet clear whether the discovery will be commercially viable.
Posted inEnergy
Utilities of Dabaa nuclear plant completed
Utilities and infrastructure of the Dabaa nuclear power plant have been completed and the Nuclear Power Plants Authority (NPPA) was handed over the site to complete preparations for the construction, local press reported. Infrastructure works were carried out by state and private sector companies and were financed locally through the Finance Ministry.
Posted inBasic Materials + Commodities
Centamin Egypt spent USD 100 mn in new investments on Sukari mine in 2018
Centamin Egypt spent USD 100 mn developing the Sukari gold mine in 2018, company exec Shady Al Rajahi told Al Mal, bringing the total spent on the mine since 2010 to USD 1.3 bn. This comes after Centamin announced a 13% y-o-y decrease in production, citing operational difficulties in 1H2018.
Posted inBasic Materials + Commodities
Egypt to begin producing black sand minerals soon
The Nuclear Materials Authority and the Egyptian Black Sand Company have signed a cooperation protocol to enhance efforts to benefit from black sand minerals and make available the necessary facilities to treat them, according to a Cabinet statement. Under the agreement, the two sides will use an experimental factory unit in Rashid to treat black […]
Posted inTelecoms + ICT
Egypt’s Raya to launch in Saudi Arabia in 2H2019
Raya Contact Center (RCC) is planning to launch services in Saudi Arabia in 2H2019, CEO Reem Asaad said, according to Al Mal. The company is looking to spend EGP 7 mn to get the operation up and running and plans to initially hire 100-150 new staff members there, she added. The outsourcing firm is also […]
Posted inAutomotive + Transportation
House passes Chinese loan for high-speed electric railway to Egypt’s new capital
The House of Representatives has approved a c.USD 680 mn loan from China to develop a high-speed electric railway line linking 10 Ramadan to the new capital, Al Mal reported. The two countries had signed the agreement in September last year during President Abdel Fattah El Sisi’s visit to Beijing.
Posted inAutomotive + Transportation
Egypt’s House approves bill to establish authority to regulate land transport
The House of Representatives approved yesterday a bill that will establish an authority to regulate land transport and freight after scrapping one article, according to a report seen by Al Mal. The authority, which will set policies to better organize domestic and international transport, as well as license and certify service providers, will report to […]
Posted inBanking + Finance
NBE, QNB, BM consortium to arrange loan for Egypt’s Abu Qir Fertilizers
A banking consortium comprised of the National Bank of Egypt, QNB Al Ahli, and Banque Misr has pledged to arrange financing for state-owned Abou Qir Fertilizers’ c. EUR 80 mn project to upgrade its mixed fertilizers facility, the company said in an EGX disclosure (pdf).