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Egyptian Intelligence Chief Abbas Kamel is expected to pay a visit to the Gaza strip soon to resume peace brokering efforts between rival factions Hamas and Fatah, Hamas spokesperson, Hazem Qassem told Anadolu Agency. This came just a day after Hamas reportedly rejected an Egyptian request to end protests along the Gazan border, unnamed sources […]
Author Archives: enterpriseam admin
Posted inEnergy
Helwan plant to operate fully February 2019, EETC to complete Maadi transformer December
The 1950 MW, EGP 15 bn South Helwan power plant is due to begin operating at full capacity in February 2019, Upper Egypt Electricity Production Company (UEEPC) head Ibrahim El Shahat said. The Egyptian Electricity Transmission Company (EETC) is also expected to complete the 1500 MVA Zahraa El Maadi power transmission station in December, chairman […]
Posted inEnergy
Eni starts drilling two new wells at Zohr
Italy’s began started drilling two additional wells at the offshore Zohr natural gas field as it prepares to raise output to its 2.7 bcf/d plateau next year, an unnamed source from EGAS tells Al Shorouk. The addition brings the total number of wells in the project to 13. Sources said that work on them should […]
Posted inInfrastructure
First phase of East Port Said berth port extension to be completed by end-November
The Suez Canal Economic Authority is set to inaugurate new platforms at the East Port Said port by end-November, Suez Canal Authority boss Mohab Mamish said, according to Youm7. The new platforms, which represent the first phase of expansions at the port, cost around USD 1.8 bn to complete, according to Mamish.
Posted inBasic Materials + Commodities
Egypt to begin new season of citrus exports in December
Egypt’s new season of citrus exports is due to begin this December, the Agriculture Export Council said, according to local news reports. Inspections on cargo earmarked for exports are set to start on 27 November and ports will begin accepting shipments of 1 December.
Posted inReal Estate + Housing
MBG Development earmarks EGP 10 bn for fresh investments in new capital
MBG Development is investing some EGP 10 bn in developing two residential compounds and a medical complex in the new administrative capital, Chairman Mahmoud El Adl tells Youm7. The company has already received the land plots for the developments and expects to begin constructing the foundations at the beginning of 2019.
Posted inReal Estate + Housing
NUCA reviewing offers for EGP 3-4 bn securitized bond issuance
The New Urban Communities Authority (NUCA) is reviewing offers from two local consortiums who are looking to manage its upcoming securitized bond issuance, unnamed sources from NUCA told Al Shorouk. The authority received offers from a consortium made up of Banque Misr and Sarwa Capital, and another comprised of the National Bank of Egypt and […]
Posted inAutomotive + Transportation
Gov’t in talks with financiers for USD 250 mn loan to double-track railways
The Transport Ministry is in talks with institutions including the European Bank for Reconstruction and Development (EBRD) for a USD 250 mn loan to double-track several key railway lines, a source told Al Mal. According to the source, studies on the lines concluded that adding a second track would be the best course of action […]
Posted inAutomotive + Transportation
Feky Group looking to acquire distribution rights of China’s Haval models
Fekry Group, ex-authorized dealer for Ford vehicles, is negotiating with China’s Haval to obtain import, distribution and aftersales rights to its full range of vehicles, unnamed sources tell Al Mal.
Posted inBanking + Finance
SIDPEC in talks with local banks for USD 1.2 bn loan for new propylene factory
Sidi Kerir Petrochemicals (SIDPEC) is in talks with local banks for a USD 1.2 bn loan for its new propylene plant in Alexandria, sources tell Al Mal. SIDPEC has approached CIB, the National Bank of Egypt, Banque Misr, Arab African Bank, QNB Egypt, HSBC, Credit Agricole, Export Development Bank, and Ahli United Bank, among others. […]