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The European Union will be extending as much as EUR 42 mn to finance the development of 17 projects in Alexandria, under a EuroMed partnership agreement with the Alexandria Chamber of Commerce, Secretary General of the Egyptian-European Chamber, Alaa Ezz, told Al Mal. The funding for projects in sectors including food processing, tourism, and agriculture […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egypt, Angola sign MoU on energy cooperation
Egypt, Angola sign MoU on energy cooperation: Electricity Minister Mohamed Shaker signed yesterday an MoU with his Angolan counterpart João Baptista Borges to promote investment and energy cooperation, according to Al Masry Al Youm. Under the agreement, Egypt will provide technical support to build solar power plants in Angola’s remote villages as well as exchange […]
Posted inDiplomacy + Foreign Trade
SCZone VP discusses investments with Vietnamese delegation in East Port Said
SCZone VP discusses investments with Vietnamese delegation in East Port Said: Suez Canal Economic Zone (SCZone) deputy head Abdel Qader Darwish met yesterday with a delegation of Vietnamese businessmen to discuss cooperation and potential investments in East Port Said. The meeting comes ahead of a planned visit from Vietnamese Investment Minister Nguyễn Chí Dũng to […]
Posted inEnergy
Electricity Ministry in talks with State Grid over new capital power transmission control center
The Electricity Ministry is in talks with the State Grid Corporation of China (SGCC) to construct a power transmission control center in the new administrative capital, sources from the Egyptian Electricity Holding Company (EEHC) said, Al Mal reports. The control center is expected to cost some EGP 1 bn, which the EEHC plans to finance […]
Posted inBasic Materials + Commodities
EBRD signs EUR 44 mn loan agreement with Beyti to finance expansions
The European Bank for Reconstruction and Development (EBRD) has signed a EUR 44 mn loan agreement with Beyti Food Industries, the EBRD announced yesterday. “The loan includes a committed tranche of up to EGP 150 mn and an uncommitted tranche for up to USD 35.5 mn or EGP equivalent.” Beyti will use the loan to […]
Posted inManufacturing
Unnamed Thai company said to be building USD 100 mn paper mill in Alexandria
An unnamed Thai company is reportedly planning to construct a USD 100 mn paper mill in Alexandria that should begin operating next year, the Thai embassy’s Minister Counselor for Commercial Affairs, Thalerngsak Vongsamsorn, tells Al Mal. The produce will be sold both locally and overseas, as the company allegedly intends to make Egypt its hub […]
Posted inReal Estate + Housing
Second phase of Makadi Heights to be launched within two months
Orascom Development will launch the second phase of its Red Sea development Makadi Heights within the upcoming two months, IR manager Sara El Gawahergy told Al Mal. The first phase of the project had launched last April.
Posted inAutomotive + Transportation
EgyptAir’s engineering arm to set up shop in Kotoka airport, Ghana
The EgyptAir Maintenance and Engineering Company signed an agreement with Ghana’s Civil Aviation Authority yesterday to establish an aircraft repair and maintenance station for airlines operating in Kotoka International Airport in Accra, according to a Civil Aviation Ministry statement. The statement did not provide any further details on timeline, investment value, or funding.
Posted inBanking + Finance
EGX approves National Cement Company delisting
The EGX approved yesterday the National Cement Company’s request to delist its 103.2 mn shares, according to an EGX statement.
Posted inSports
4 Egyptian weightlifters snag gold at African Weightlifting Championships
Egypt had a strong showing at the 2018 African Weightlifting Championship in Mauritius, with Halima Abdel Azim, Mohamed Selim, Ahmed Tolba, and Ahmed Adel each clinching three gold medals in their respective weight categories, according to Al Masry Al Youm.