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Multi Glass Manufacturing is planning to set up a EGP 200 mn factory in 6 October to produce transparent and tinted glass, Chairman Mohamed Fathi said. The new factory’s planned annual output is 1.5 mn units.
Author Archives: enterpriseam admin
Posted inManufacturing
Early phase of Egypt’s USD 2 bn textile complex in Sadat to launch by 2019-end
The first phase of the USD 2 bn Chinese textile industrial complex in Sadat City is set to be completed by year end, according to a Trade and Industry Ministry statement (pdf). Phase one, which is expected to house 100 factories, was initially due for completion by the end of 2018.
Posted inHealth + Education
Cleopatra Hospitals to sign 50-bed hospital lease agreement
Cleopatra Hospitals Group (CHG) is planning to sign a long-term lease agreement for a 50-bed East Cairo hospital by February, according to a statement (pdf). The hospital, which is located near Cleopatra Hospital, is expected to “serve excess demand” for Cleopatra’s services. The leasing agreement will bring CHG’s total number of hospitals to six and […]
Posted inHealth + Education
MNG to invest EGP 230 mn in Borg El Arab pharmaceuticals factory
MNB Pharmaceutical Company is planning to invest EGP 230 mn in a new meds production facility in Borg El Arab, Chairman Mohamed Bazazo said. The first phase of the factory will come online by January 2021, and will be fully commissioned in 2025, according to Bazazo. The company plans to direct most of the factory’s […]
Posted inReal Estate + Housing
Orascom Development sells three Red Sea properties
Orascom Development Egypt (ODE) has sold three of its properties in the Red Sea Makadi resort for EGP 856 mn, according to a company press release. The agreement included the sale of Royal Azur, Club Azur Hotels, as well as a plot of land in the area that the company owns. Proceeds will be used […]
Posted inTourism
Sharm receives first Serbia charter flight of Egypt holidaymakers
Sharm El Sheikh International Airport received on Saturday the first Serbian flight since 2012, Egypt's ambassador to Serbia Amr El Goweily said, according to Ahram Online. This came after Air Serbia reintroduced charter flights to Hurghada last year.
Posted inTourism
Egyptian archaeological mission discovers Roman sarcophagi in Tel Al Deir site
An Antiquities Ministry archaeological mission unearthed on Sunday a number of Roman-era clay sarcophagi in Damietta’s Tel Al Deir antiquities site, Supreme Antiquities Council head Mostafa Waziri said, according to a ministry statement. The mission also discovered 700 pottery vessels and amulets.
Posted inAutomotive + Transportation
Egypt to inaugurate phase 4A of Cairo Metro Line 3 this month
The government will inaugurate this month phase 4A of the EGP 32 bn Cairo Metro Line 3, National Tunnels Authority central administration head Tarek Abu El Wafa told Al Shorouk. The 4 km phase link four stations in New Cairo — Harun, Heliopolis, Alf Maskan, and Shams Club.
Posted inBanking + Finance
NAT to sign USD 1.2 bn loan agreement with China Exim for electric rail line
The National Authority for Tunnels (NAT) will sign before mid-January a USD 1.2 bn low-interest loan agreement with the Export-Import Bank of China (China Exim) to fund the East Cairo electric rail line, according to a Transport Ministry statement. The new 67 km line will link Salam City with 10th of Ramadan City and the […]
Posted inOther Business News of Note
EFG Hermes, HSBC agree to make available EGP 400 mn in financing for SMEs
EFG Hermes Leasing and HSBC Egypt have agreed to allow SMEs access to EGP 400 mnin leasing and financing servicesduring 2019, according to an EFG statement. The agreement, aimed to provide SMEs with low interest rates as well as medium- and long-term funding to support both capex and cash flows, comes as the government rallies […]