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Construction of Abu Dhabi’s Al Nowais Investments’ USD 4 bn coal power station in Oyoun Moussa and Saudi’s ACWA Power’s USD 2.2 bn power plant in Luxor should be complete in four years’ time, an unnamed source at the Electricity Ministry tells Amwal Al Ghad. The Electricity Ministry expects to finalize talks with Al Nowais […]
Author Archives: enterpriseam admin
Posted inEnergy
Africa Power wins contracts to build 10 solar-operated irrigation systems in Farafra
Solar energy company Africa Power has been awarded contracts to build 10 solar-operated irrigation systems in Farafra, CEO Ahmed Hamdy tells Al Mal. The EGP 25 mn project will be financed by an unnamed Kuwaiti investor as part of the 1.5 mn feddan project. The stations’ combined production capacity will reach 2 MW.
Posted inEnergy
Egypt to fine Saudi’s Fas for delay in Benban solar energy project
The Egyptian Electric Utility & Consumer Protection Regulatory Agency (Egyptera) has decided to fine Fas Energy, a subsidiary of Saudi Arabia’s Al Hokair Group, for a delay in completing a 50 MW solar power plant in Benban under phase one of the feed-in tariff program, sources close to the matter said. The agency wants to […]
Posted inHealth + Education
Samsung begins delivering educational tablets for 2018-19 academic year
Samsung Egypt has begun delivering to the Education Ministry batches of the tablets manufactured for schools to use in the 2018-19 academic year, reports. Samsung was awarded the contract to supply the tablets last month.
Posted inReal Estate + Housing
Hyde Park, Constec to build EGP 140 mn Hyde Park project in New Cairo
Hyde Park Developments inked a EGP 140 mn agreement with the Construction and Design Company (Constec) that will see the two companies work together to develop the Hyde Park Cluster 19 project in New Cairo, Constec GM Ashraf Abdel Hakam tells Al Mal. The project is expected to be completed in 18 months.
Posted inTourism
Egypt hires int’l health consultancy group to inspect Hurghada hotels
The Tourism Ministry has contracted international consultancy group Preverisk to inspect health and safety conditions in Hurghada hotels and enforce quality standards, according to a Tourism Ministry statement picked up by Al Mal. The Spanish firm will offer a comprehensive strategy based on its evaluation and is also expected to help train hotel employees. The […]
Posted inTourism
New phase of charter flights incentive program to begin next month
The new phase of the charter flights incentive program will start next month and will last until April 2020, Tourism Minister Rania Al Mashat said, according to Youm7. The program — which will be re-evaluated every six months — offers payouts and fee exemptions to flights and tour operators that bring in a certain number […]
Posted inAutomotive + Transportation
Dershal to invest USD 53 mn in Egypt for local electric car assembling
The local distributor of China’s Dongfeng cars, Dershal, is planning to invest USD 53 mn to begin assembling electric cars in Egypt, Dershal Chairman Hassan El Dessouky said, Xinhua reports. No further details were provided, but Dershal had signed an agreement with the state-owned Egyptian Automotive Manufacturing Company in July to cooperate on the assembly […]
Posted inAutomotive + Transportation
Egypt, Sudan to begin railway connection project soon
Egypt and Sudan are due to begin working on a new 630 km railway line that would connect both countries as soon as feasibility and environmental impact studies conclude, Ahram Online reports. A Transport Ministry delegation was just in Khartoum to discuss the next steps on the project, which will take 36 months to complete, […]
Posted inBanking + Finance
CIB to begin issuing Aman insurance certificates
CIB will start issuing Aman insurance CDs, pending approval from the central bank, Head of Actuarial Affairs at Misr Life Insurance, which is issuing the CDs in cooperation with CIB, Mohamed Mostafa told Amwal Al Ghad. The Financial Regulatory Authority (FRA) approved CIB’s request to issue the certificates yesterday, joining the National Bank of Egypt, […]