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Carbon Holdings expects to reach financial close on its USD 10.9 bn Tahrir Petrochemicals Complex (TPC) by the end of the year, Managing Director for Environment and Sustainability, Mohamed Hassan, tells Bloomberg in an interview. The project is being financed by a USD 5.4 bn debt package through institutions such as UK Export Finance, Germany’s […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Voltalia plans to invest USD 800 mn in Egypt over the next five years
INVESTMENT WATCH- France’s Voltalia plans to invest as much as USD 800 mn in Egypt’s renewable energy sector over the next five years, Regional Director Emad Ghaly said yesterday. The company plans to build around 500 MW-worth of wind farms and 300 MW-worth of solar power plants, he said, adding that “Voltalia agreed with a […]
Posted inSpeed Round
EFG Hermes arranges USD 18 mn-worth of loans for Marakez to finance new residential project in New Cairo
INVESTMENT WATCH- EFG Hermes arranges USD 18 mn-worth of loans for Marakez to finance new residential project in New Cairo: EFG Hermes has reportedly arranged USD 18 mn-worth of loans for Al Hokair Group’s Marakez for Real Estate Investment, sources with knowledge of the matter tell Al Mal. The amount was secured through a number […]
Posted inSpeed Round
Orascom Construction completes, delivers renovated Al Alamein Hotel
Orascom Construction (OC) has completed and delivered its renovation of the Al Alamein Hotel to Emaar Hospitality Group after eight months of work, OC announced yesterday in an emailed statement (pdf). The company “implemented an intensive schedule to refurbish, upgrade, and convert” the famous North Coast hotel to a luxury, state-of-the-art establishment. OC was the […]
Posted inSpeed Round
Egypt’s banks and Finance Ministry closing in on agreement to settle stamp tax disputes
EXCLUSIVE- Egypt’s banks and Finance Ministry closing in on agreement to settle stamp tax disputes: The Finance Ministry and the Federation of Egyptian Banks (FEB) have agreed to settle outstanding issues concerning the stamp tax, Assistant to the Finance Minister Fathy Shaaban told Enterprise. A new agreement to set the new compromise framework will be […]
Posted inSpeed Round
EEHC to sign contracts with China’s Sinohydro for USD 2.6 bn hydraulic power station in Ataqa next month
Another EEDC zombie project sees the light of day? The Egyptian Electricity Holding Company (EEHC) will reportedly sign contracts next month with China’s Sinohydro for the development of a USD 2.6 bn 2.4 GW pumped-storage hydroelectricity power station in Ataqa, Hydro Power Plants Executive Authority boss Mohamed Osama said. The government had signed an MoU […]
Posted inSpeed Round
Tarek Aboul Atta appointed deputy head of Supreme Constitutional Court
MOVES- Tarek Aboul Atta was appointed as the deputy head of the Supreme Constitutional Court by a presidential decree issued yesterday, Al Masry Al Youm reports.
Posted inSpeed Round
Essam El Saghir to remain in place as Egypt Post head for one year
MOVES- Essam El Saghir is staying on as Egypt Post head for an additional year after his three-year term ended in May, Al Mal reports. El Saghir has held the position since May 2015.
Posted inSpeed Round
Sami Anan on life support, “in critical condition” as his health falters
Former Armed Forces chief of staff Sami Anan is in critical condition and is on life support at a military hospital, two sources tell Reuters. 70-year-old Anan was reportedly admitted to the hospital’s intensive care unit on Saturday due to a “chest infection and back problems that have impaired his ability to move,” according to […]
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