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The New Urban Communities Authority (NUCA) has allocated a 187-feddan land plot to the New Aswan city authority to develop a freezone, deputy head of NUCA Tarek El Sebai said. The move came in response to a request from the investment ministry amid efforts to increase the number of freezones to boost investment.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Centamin reports lower-than-expected output from Egypt’s Sukari mine in 2018
Gold miner Centamin’s output from the Sukari gold mine in 2018 fell 2% below its full-year target of 480k ounces due to “lower than expected underground grade delivered in December,” according to a company release (pdf). Preliminary figures indicate that gold poured in 4Q2018 reached 135-140k ounces. Centamin had cut its output targets twice last […]
Posted inManufacturing
Trade Minister and LG Electronics Egypt’s CEO Don Kwak discuss company’s future plans in Egypt
Trade and Industry Minister Amr Nassar met yesterday with LG Egypt CEO Don Kwak to discuss the company’s future manufacturing and export plans, according to Mubasher. According to Kwak, LG is looking to increase its reliance on locally sourced components in its manufacturing and expand its exports to African markets.
Posted inReal Estate + Housing
Concorde Engineering and Contracting to invest EGP 1 bn in Egypt’s North Coast
Concorde Engineering and Contracting is looking to construct two new hotels at a combined cost of EGP 1 bn on the North Coast, with the first phase expected to launch in 2H2019, Concorde’s CEO Sayed Mohamed told the local press. Construction of the project 10-feddan project is anticipated to take approximately three years.
Posted inTourism
Archaeologists discover fortress, villa near Egypt’s Red Sea coast, Edfu
A team of Polish and American archaeologists have uncovered a 2,300-year-old Ptolemaic-era fortress near the Red Sea coast, according to Live Science. A separate team led by the University of Chicago also discovered a large urban villa dating back to the New Kingdom in Tell Edfu.
Posted inTelecoms + ICT
Indian Lava to begin manufacturing phones in Egypt before year-end
Indian smartphone manufacturer Lava will begin producing phones in Egypt, in partnership with the Military Production Ministry, before year-end, CEO Vikram Singh Parmar said, according to Al Masry Al Youm. No further details were provided. The company signed an MoU with the ministry last year, and will set up the line in one of the […]
Posted inAutomotive + Transportation
Egypt seeking EBRD loan for 6 October-El Manashy railway
The Transport Ministry is in talks with the European Bank for Reconstruction and Development (EBRD) for a EUR 100 mn fund facility to build a new railway line linking 6 October dry port to El Manashy village in Giza, Minister Hisham Arafat said, according to Al Mal. The 6 October port, a planned USD 110 […]
Posted inEgypt Politics + Economics
Supreme Media Council extends deadline for Egypt’s news website licenses
The Supreme Media Council has extended the deadline for submitting applications for news website permits until the end of January, the council said on Thursday. The licenses apply to news websites whose capital exceeds EGP 100k a year under temporary licensing regs the council had issued in October. The regs are only in effect until […]
Posted inEgypt Politics + Economics
Egypt to target 100 poorest villages with “A Decent Life” initiative
The government is planning to target 100 of Egypt’s poorest villages through the “Decent Life” initiative President Abdel Fattah El Sisi launched last week, Deputy Social Solidarity Minister Nevine El Kabbag said on Friday, according to Masrawy. The villages, which are largely concentrated in Giza, Minya, Assiut, Sohag, Qena, Luxor, Aswan, El Wadi El Gedeed, […]
Posted inEgypt Politics + Economics
Sherine could face charges for insulting Egypt, again
Pop singer Sherine Abdel Wahab could face another round of questioning from authorities over comments she made that could be considered “offensive to Egypt”, Ahram Online reports. Samir Sabry, a lawyer who’s known for going after high profile figures, has filed a lawsuit against Abdel Wahab who was heard mumbling “it's such a waste that […]