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The African Development Bank (AfDB) is planning to finance new energy, industrial, and agricultural projects in Egypt, Country Manager for Egypt Malinne Blomberg said in a meeting with Trade and Industry Minister Tarek Kabil yesterday, according to a ministry statement. The bank is currently studying a number of projects, including some n the Suez Canal […]
Author Archives: enterpriseam admin
Posted inInfrastructure
Housing Ministry issues rural sanitation projects tender in Sharkiya
The Housing Ministry has launched a local tender for a number of rural sanitation projects in Sharqiya, funded by a USD 550 mn World Bank loan, Housing Ministry Senior Undersecretary Rania Al Menshawi tells Al Mal. The project aims to upgrade sanitation services in more than 150 villages around Egyptian governorates. The contractor awarded will […]
Posted inInfrastructure
Gov’t announces consortia qualified for Six October dry port
Transport Minister Hisham Arafat announced yesterday the qualifying bids for the USD 100 mn Six October dry port project, according to a ministry statement. The list includes a consortium comprising Elsewedy Group, Germany’s Schenker, and Cairo 3A. A Groupe PSA-Hassan Allam Construction-Concorde Engineering and Contracting consortium is also bidding on the project, as is a […]
Posted inManufacturing
Egyptian German Automotives to manufacture brake parts in new Six October factory
Egyptian German Automotives is launching a new factory to manufacture brake parts in Six October City in September, Business Support Manager Mohamed Salem tells Al Mal. With plans to reach the maximum production capacity of 30k tonnes annually, the company is planning to increase its exports, targeting global auto brands. The company has already been […]
Posted inReal Estate + Housing
ODE signs with NUCA to build Gouna-style town in Six October City
Orascom Development Egypt (ODE) has signed an MoU with the New Urban Communities Authority (NUCA) to build a Gouna-style town in 6 October City, CEO Khaled Bishara said yesterday, without disclosing further details about the cost or timeline for the project, according to Al Masry Al Youm. The new development will mimic Gouna’s sustainable city […]
Posted inTourism
Colliers International forecasts rise in Egypt’s hotel occupancy rates in 2Q2018
Hotel occupancy rates in Egypt are expected to rise from April-June 2018, Colliers International said in a report on MENA hotels (pdf). Sharm El Sheikh and Hurghada are expected to see the biggest jump in occupancy rates over the three months, reaching 42% and 55% y-o-y, respectively. Cairo’s occupancy rates are expected to rise to […]
Posted inAutomotive + Transportation
Three consortia qualify to design, supervise Alexandria’s Raml tram development
Three local and international consortia have reportedly qualified to design and supervise the EUR 360 mn Alexandria tram project, sources tell Al Mal. A Systra-led consortium topped the list of bidders. A SITC Group-led consortium and a consortium headed by France’s Ingerop were among the top contenders. The three consortia include local companies Moharram.Bakhoum and […]
Posted inOther Business News of Note
IDA to decide on whether to begin seizing land from 1,000 “distressed” factories
The Industrial Development Authority (IDA) will decide today whether to begin seizing land from 128 investors unlucky enough to be part of the 1,000 factories who are constantly crying out for help in New Cairo over delays in completing construction or beginning production, according to an IDA source. The authority had previously issued several warnings […]
Posted inOther Business News of Note
Awfar Market in talks with US, UAE investment funds to expand regionally
Online supermarket Awfar Market is in talks with four investment funds in the US and UAE to secure funding for expansion plans in the Arab region, specifically in Kuwait and the Emirates, according to CEO Abdelrahman Galal.
Posted inEgypt Politics + Economics
El Sisi pardons 712 prisoners
President Abdel Fattah El Sisi issued yesterday a presidential pardon for 712 prisoners, according to Reuters’ Arabic service.