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The 8th Egypt-EU Association Council adopted on Thursday the European Commission's 2018 cooperation package, which was introduced on 29 November 2018, according to a press release (pdf). The cooperation package is expected to provide Egypt with EUR 20 mn for energy and water projects, EUR 12 mn to support increased accessibility to vulnerable areas, and […]
Author Archives: enterpriseam admin
Posted inEnergy
Egypt, Chinese company sign MoU to establish energy projects
Military Production Minister Mohamed El Assar signed an MoU with the China Energy Engineering Corporation (CEEC) to build energy and infrastructure projects in Egypt, according to a ministry statement. The agreement stipulates that the National Authority for Military Production will work with the CEEC to identify and secure legislation to establish several energy and infrastructure […]
Posted inEnergy
EGAS to connect 1.5 bcf/d of natural gas to national grid in 2019
EGAS is reportedly expecting to connect 1.5 bcf/d of natural gas to the national grid with the completion of the Zohr, North Alexandria and 9B in Burullus fields in 2019, according to an unnamed company source. EGAS aims to increase Egypt’s total local production to 7 bcf/d by the end of 2019, and work with […]
Posted inEnergy
Egypt signs agreement to build Al Nowais coal-fired power plant in Q12019
The Egyptian Electricity Holding Company (EEHC) has signed with UAE’s Al Nowais a final agreement to build the USD 4 bn coal-fired power plant in Oyoun Moussa in South Sinai, with construction scheduled to begin in 1Q2019. The project was first announced back in 2015, and experienced several stalls before all negotiations were ironed out. […]
Posted inBasic Materials + Commodities
Egypt buys most expensive wheat in four years, Russia left out
State grain buyer GASC purchased 120,000 tonnes of wheat at the highest prices in four years during an international tender on Thursday for delivery between 11 and 20 February, according to Reuters. This was the first time in six months that Egypt did not purchase Russian wheat, the newswire highlighted, attributing the move to its […]
Posted inBasic Materials + Commodities
Egypt is about to overtake Spain as world’s largest orange exporter
Egypt’s orange exports have been gaining ground in European and global markets, with sales growing by 17% in Europe alone, according to a report by Radio France Internationale (RFI). This year, Egypt could export up to 1.65 mn tonnes of oranges and replace Spain as the world’s main orange exporter, Freshplaza notes. Egypt is already […]
Posted inManufacturing
Gov’t completes studies for USD 7.5 petrochem complex in Egypt’s New Alamein
State-owned Egyptian Petrochemical Holding Company has completed feasibility studies for a USD 7.5 bn petroleum refining complex in New Alamein, a company source said. The source said a US-based company conducted the studies, but did not disclose its name. The facility will refine some 5 mn tonnes of crude per annum when it comes online […]
Posted inManufacturing
El Marakby for Steel to establish new EGP 500 mn factory in Egypt
El Marakby for Steel will establish a new EGP 500 mn factory as part of its expansion plans, CEO Hassan El Marakby told Al Shorouk. The new factory, which will see El Marakby’s production capacity increase by 25%, is expected to be completed within two years.
Posted inReal Estate + Housing
SAK, Landmark to partner up on EGP 400 mn project in new capital
Real estate players SAK Developments and Landmark Sabbour are partnering to develop EGP 400 mn-worth of commercial and administrative units in the “investors district” of the new capital, CEO Ahmed Kadry tells Al Mal. The project is slated for delivery within three years from the signing of contracts — for which Kadry gave no specific […]
Posted inReal Estate + Housing
NACC sells new capital business district land to NUCA at EGP 10k per sqm
The New Administrative Capital Company (NACC) has priced the land it sold to the New Urban Communities Authority (NUCA) in the new capital’s business district at EGP 10k per sqm, sources told Al Mal. China State Construction Engineering Company is the main contractor NUCA hired to develop the business district, in which the company is […]