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Negotiations between Saudi Arabia’s ACWA Power and the Electricity Ministry over the former’s USD 2.2 bn, 2.25 GW Dairut power plant have stalled after nearly several months of negotiations, according to ministry sources. It remains unclear what is behind the stalled talks, but the sources noted that ACWA has yet to receive the allocated land […]
Author Archives: enterpriseam admin
Posted inInfrastructure
Egypt’s reuse of drainage water sets example for other countries -UN report
Egypt provides a good example of a country that found unconventional water resources with its drainage management system, according to a joint report from the World Bank UN’s FAO. Egypt, which uses drainage water proved that reusing drainage water is both a cheap and effective way of increasing water efficiency and boosting productivity. “In Egypt, […]
Posted inBasic Materials + Commodities
GASC purchases 350k tonnes of Russian, Ukrainian wheat for October delivery
The General Authority for Supply Commodities (GASC) purchased 350k tonnes of Russian and Ukrainian wheat in an international tender yesterday, Reuters’ Arabic service reports. GASC reportedly paid an average USD 241.31 per tonne, sources told Agri Census (paywall). The bill is 4% lower than the record USD 250 per tonne that Egypt paid for wheat […]
Posted inManufacturing
Jushi inaugurates new production line at Ain Sokhna factory
General Authority for Freezones and Investment (GAFI) CEO Mohsen Adel inaugurated yesterday Jushi’s new production line at its Ain Sokhna fiberglass factory, Ahram Gate reports. The Chinese company has invested a total of USD 570 mn in the factory since its construction in 2012. The plant produces 200k tonnes of fiberglass per annum.
Posted inAutomotive + Transportation
Vehicle protection services provider Ziebart awards master license to Egypt’s NATCO
Michigan-based vehicle protection services provider Ziebart International announced yesterday awarding a new master license to Egypt’s Mercedes-Benz producer and distributor the National Automotive Company (NATCO), according to a company release. “We are very excited for the openings of these locations,” CEO Thomas Wolfe said. “NATCO has a long-standing history of doing business [in Egypt].”
Posted inOther Business News of Note
Orange Egypt’s board of directors approves voluntary delisting proposal
Orange Egypt’s board of directors approved the company’s proposal for voluntary delisting during its meeting on Monday, according to a statement to the EGX (pdf). Orange had been facing mandatory delisting since the beginning of the year for failing to meet the EGX’s amendments on the required number of freefloat shares. The company expects to […]
Posted inLegislation + Policy
Trade Minister given powers to exercise PM’s powers under Competition Protection Act
A decision granting the Trade Minister authority to exercise the Prime Minister’s powers under the Competition Protection Act was issued in the Official Gazette yesterday, according to Al Masdar.
Posted inEgypt Politics + Economics
Criminal court sentences six to death for attacking security checkpoint
An Egyptian court sentenced six militants to death for a 2016 attack on a security checkpoint that killed a policeman, the Associated Press reports.
Posted inSports
Karim Hafez to join _stanbul Ba_ak_ehir
Egypt defender Karim Hafez is joining Turkish football Super Lig club _stanbul Ba_ak_ehir on loan, according to reports from France Football. Hafez is reportedly already in Turkey for necessary medical checkups, Turkish newspaper Sabah reports. He had returned to Egypt to join Wadi Degla once again after having spent five years in Belgium FC Lierse.
Posted inON YOUR WAY OUT
Egypt’s highest religious authority denounces [redacted] harassment
Al Azhar publicly denounced [redacted] harassment as a “sin” in a statement yesterday.Al Azhar declared all forms of [redacted] harassment as strictly inadmissible according to both religious tenants and the law, and urged civil society organizations and the media to take a more active stance in raising awareness against the practice. The statement came amid […]