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Arab Contractors is competing for USD 400-450 mn worth of infrastructure projects in Mauritania, Cote d’Ivoire, Uganda, and Senegal, head of the company’s Africa sector Ibrahim Mabrouk said, Al Masry Al Youm reports. The projects include building roads and bridges and sanitation pipelines. The company has been looking at expanding its operations in African countries […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Shoukry meets Chinese counterpart ahead of eighth Arab-Chinese coop. forum
Foreign Minister Sameh Shoukry met yesterday with his Chinese counterpart Wang Yi to discuss expanding Chinese investment ahead of the eighth edition of the Arab-Chinese cooperation forum kicking off today, according to a ministry statement.
Posted inEnergy
House Energy Committee approves exploration agreements
The House Energy Committee has signed off on six bills that should ultimately see the Oil Ministry offer exploration rights to concessions in the Eastern and Western Deserts, the Sinai Peninsula, Gulf of Suez, and the Mediterranean coast west of the Nile Delta, including the Noor gas field off the coast of North Sinai, Youm7 […]
Posted inEnergy
Shaker meets with Hitachi delegation to discuss upgrading electricity networks
Electricity Minister Mohamed Shaker met on Sunday with a delegation from Japan’s Hitachi to discuss upgrading Egypt’s transformer stations, Al Mal reports.
Posted inInfrastructure
Carbon Holdings to build USD 500 mn pier in Ain Sokhna
Carbon Holdings is set to build a USD 500 mn pier and develop an existing pier in Ain Sokhna, Red Sea Ports Authority head Hisham Abu Senna said, Al Shorouk reports. Abu Senna did not provide details on the expected timeline for construction, but noted that the authority signed off on allowing the company to […]
Posted inInfrastructure
Elsewedy subsidiaries SDM, PIP to invest EGP 880 mn in developing Sadat City industrial zones
Elsewedy Group subsidiaries SDM and Pyramids Industrial Parks signed with the Industrial Development Authority (IDA) contracts to develop industrial zones in Sadat City at a combined investment cost of EGP 880 mn, Elsewedy said in a disclosure to the EGX (pdf). IDA head Ahmed Abdel Razek had said the two contracts’ combined investment value stood […]
Posted inBasic Materials + Commodities
Spoiled 45,000 tonnes of Russian was not bought by gov’t - Supply Min
A shipment bought by the private sector that was seized by Alexandria authorities on 1 July for being infested with worms and insects, the Supply Ministry said, Reuters reports. Authorities are questioning a businessman responsible for the import of the wheat shipment.
Posted inReal Estate + Housing
Misr Italia is preparing to launch a real estate fund targeting foreign investors
Real estate developer Misr Italia is currently preparing to launch a real estate fund, Chairman Hanny El Assal tells Al Shorouk. The fund will target foreign investors and focus on investing in hotels, as well as administrative and commercial properties, El Assal said without providing additional detail. Egypt’s first-ever real estate fund — which was […]
Posted inTourism
Hurghada hotel occupancy rates reach 100% during summer season
Hotel occupancy rates in Hurghada have reached 100% during the summer season, with some hotels reporting being overbooked, Chairman of travel agency Global Travel International Ali Okda tells Al Shorouk. The market in the resort town is rebounding due to better security perception, but Okda says the lack of Russian charter flights is still expected […]
Posted inTourism
Swiss-Belhotel plans new projects in Egypt
Swiss-Belhotel International is planning to open new hotels in Egypt as part of its expansion plans for the coming year, Senior Vice Presidents of ME Operations Laurent A. Voivenel tells TTN Worldwide. The new facilities will be in North Coast and Cairo. No further details were provided.