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The Agricultural Quarantine Authority (AQA) is imposing new regulations on citrus producers selling to China as Egypt looks to grow its market share in the key export destination, according to a report in the domestic press citing unnamed sources at the authority. The new requirements address pesticide revenues and pest-control systems, among other changes.
Author Archives: enterpriseam admin
Posted inManufacturing
Raya, Samsung mull EGP 300 mn washing machine plant
A subsidiary of Raya Holding is studying a EGP 300 mn investment in a plant that would manufacture washing machines in partnership with Samsung, CEO Medhat Khalil tells Al Mal. Construction would begin within a year. Raya and Samsung had signed a separate USD 3.5 mn agreement earlier this year to manufacture top-loading washing machines.
Posted inManufacturing
Suez Methanol signs USD 35-40 mn MoU with APICORP to finance methanol facility
Suez Company for Methanol Derivatives signed on Tuesday an MoU with the Arab Petroleum Investments Corporation (APICORP) on financing its USD 35-40 mn methanol derivatives plant, according to an Oil Ministry statement. The facility, which will be built in Damietta, will target sales on the domestic market.
Posted inManufacturing
Alfa Masr to build EGP 50 mn paints factory in Sadat City
Alfa Masr for Coatings is looking to build an EGP 50 mn paint factory in Sadat City, CEO Osama El Zanaty said. The plant will be operational by the end of 2019. The company will seek financing under the central bank’s SME financing program, which provides subsidized funds to banks to lend on to small […]
Posted inManufacturing
Ahram Plastics to bring EGP 30 mn factory online in March 2019
Al Ahram Plastics expects to complete construction of its new EGP 30 mn plastics factory in Sadat City by the end of the month will begin commercial operations by March 2019, CEO Samir Sarhan told the local press.
Posted inTourism
Seven bidders eye Downtown’s storied Shepheard Hotel
Seven unnamed Egyptian and international bidders are interested acquiring a 51% stake in a joint venture with the state-owned Egyptian General Company for Tourism and Hotels (EGOTH) to redevelop Downtown Cairo’s storied Shepheard Hotel, EGOTH head Mervat Hataba said, according to a report in Al Mal. EGOTH invited last month hotel operators and investors to […]
Posted inTelecoms + ICT
Etisalat launches trials of virtual fixed landlines
Mobile network operator Etisalat Misr has launched trial operations for its virtual fixed landline service, CEO Hazem Metwally said earlier this week. Commercial operations for the service will launch “soon” under an agreement that will allow it to use infrastructure owned by fixed-line monopoly Telecom Egypt.
Posted inBanking + Finance
Gov’t’s see leasing industry worth EGP 80 bn by 2022
Egypt’s four-year strategy to drive growth in the non-bank financial sector sees the leasing market worth EGP 80 per year bn by 2022, up from EGP 28.6 bn in 2017, Financial Regulatory Authority Chairman Mohamed Omran said,according to Al Masry Al Youm.
Posted inBanking + Finance
EDB in talks for USD 500 mn facility for trade finance?
The Export Development Bank (EDB) is starting a fresh round of talks with international lenders for USD 500 mn to finance trade between Egypt and African countries, sources told Masrawy.
Posted inON YOUR WAY OUT
Is modern pentathlon Egypt’s new squash?
** #9 – Is modern pentathlon Egypt’s new squash? Not content with dominating the world squash rankings, Egyptian athletes are now turning their attention to modern pentathlon. Ahmed El Gendy won gold for Egypt in the modern pentathlon on Sunday at the Buenos Aires 2018 Youth Olympic Games. El Gendy’s win marks Egypt’s third gold […]