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TAQA Arabia, Alcazar Energy, and FAS Energy are expected to complete each of their 50 MW solar power plants in Aswan’s Benban solar power park and link them to the national grid within two weeks, Electricity Ministry sources said. Alcazar and TAQA, a subsidiary of Qalaa Holdings, have each completed around 97% of their respective […]
Author Archives: enterpriseam admin
Posted inEnergy
Egypt pays Dana Gas an equivalent of USD 20 mn in arrears
Egypt has paid UAE’s Dana Gas the EGP equivalent of USD 20 mn in arrears, bringing total receipts to USD 152 mn, according to a company press release (pdf). The company also said it expects another payment to be made in USD by year-end to move forward with plans to drill a deepwater exploration well […]
Posted inEnergy
Edison gives up exploration rights in North East concessions
Italy’s Edison has forfeited its natural gas exploration rights in North East concessions Hapi and Theqa, local news reported. A new international tender for the concessions will be launched next year, an Oil Ministry source said, without specifying a time frame. Edison signed a USD 86 mn agreement with EGAS in January 2017 for E&P […]
Posted inManufacturing
Egyptalum to review tender offers on 31 December
Egypt Aluminum (Egyptalum) will review on 31 December offers it received in a tender to build a new USD 600 mn product line that’s expected to increase production capacity to 570K tonnes from 320K tonnes, the company said in an EGX disclosure (pdf). Nine companies have submitted offers, including the US’ Bechtel Corporation and Canada’s […]
Posted inReal Estate + Housing
Egypt’s First Group to invest EGP 6 bn in new real estate projects
First Group for Real Estate Investment will invest up to EGP 2.25 bn in new projects in 2019, Chairman Bashir Mostafa said. The new projects will include development in the North Coast and Ain Sokhna. The company will finance 25% of the projects through bank loans.
Posted inTourism
ODE inks agreement with Thomas Cook to develop hotel, rebrand another in Gouna
An Orascom Development Egypt (ODE) subsidiary has inked an agreement with global tour operator Thomas Cook to develop a hotel and rebrand another in the Red Sea’s El Gouna resort town, according to a company press release. Orascom Hotels Management (OHM) will develop Casa Cook Hotel, which is expected to open as early as October […]
Posted inTourism
Egypt calls off tender for 51% stake in Shepheard Hotel
State-owned Egyptian General Company for Tourism and Hotels (EGOTH) has called offa tender to sell a 51% stake in the iconic Shepheard Hotel in Downtown Cairo, Chairperson Mervat Hataba said, according to Al Mal. The company received two offers from potential partners, one from India’s Tata subsidiary Taj Hotels and another from local construction firm […]
Posted inTourism
EgyptAir to begin domestic flights from and to Sphinx International Airport next month
National flag carrier EgyptAir will begin operating domestic flights to and from Sphinx International Airport on a trial basis between 25 January and 9 February 2019, according to a ministry statement. Sphinx International Airport, located on the Cairo-Alexandria desert road, was inaugurated in October to primarily cater to residents of Giza, 6 October and Haram.
Posted inAutomotive + Transportation
Egypt sets 31 January as deadline for bids for Alamein-Ain Sokhna train
Egypt’s transport and housing ministries have pushed to 31 January the bids deadline to “design, build finance and operate” a high-speed train linking Ain Sokhna and the New Alamein city, according to MEED (paywall).
Posted inAutomotive + Transportation
SCA increases fee discounts for tankers passing from US to Asia in 2019
The Suez Canal Authority (SCA) will offer fee discounts of 50-75% for fuel tankers traveling between the US or Latin America and Asia for one year as of January 2019, according to Al Mal.