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The countdown to the launch of Siemens’ fully commissioned power plants has officially begun. President Abdel Fattah El Sisi is expected to inaugurate the three fully-commissioned combined-cycle power plants in Burullus, Beni Suef, and the new administrative capital sometime next month, Siemens project manager Sherif Kotb said. All three stations are currently around 97% complete […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt on track to keep pace with rising electricity demand through 2022 - Apicorp
Speaking of which, Egypt is on track to keep pace with rising electricity demand through 2022 thanks to 25 GW of capacity already being executed and ready for commissioning, according to a report by Arab Petroleum Investments Corporation (Apicorp). The report cites the Siemens power plants as being a major contributor to this. Apicorp says […]
Posted inSpeed Round
Egypt, Saudi to sign electricity interconnection project contracts in June
Meanwhile, Egypt and Saudi Arabia are expected to sign contracts for their USD 1.6 bn electricity grid interconnection project in June, Egyptian Electricity Transmission Company head Gamal Abdel Rehim tells Youm7. Construction on the substations in Badr, Nabq, and Tibuk will begin mid-2018, according to Abdel Rehim. Electricity Ministry sources had said in January that […]
Posted inSpeed Round
Egypt, Russia to hold meetings next month to look into resuming charter flights
Egypt, Russia to hold meetings next month to look into resuming charter flights: Egypt and Russia are expected to meet sometime during mid-May to set a roadmap for the resumption of charter flights from Russia to Sharm El Sheikh and Hurghada, Civil Aviation Minister Sherif Fathy told reporters yesterday, Youm7 reports. The discussions will also […]
Posted inSpeed Round
Renaissance Capital welcomes Ahmed Hafez as new Head of MENA Research
MOVES- Our friends at Renaissance Capital have welcomed Ahmed Hafez as the firm’s new Head of MENA Research, based in Cairo, according to a statement (pdf). Hafez was previously co-head of research and MENA equity analyst at HC Brokerage and was earlier MENA equity analyst at HSBC Securities.
Posted inSpeed Round
Emaar Misr elects Jamal Khalfan as non-executive chairman
MOVES- Emaar Misr has named Jamal Khalfan as non-executive chairman, the company said in a bourse filing on Tuesday (pdf).
Posted inSpeed Round
EBRD president is looking to expand into sub-Saharan Africa
The European Bank for Reconstruction and Development (EBRD) is considering an expansion into sub-Saharan Africa, President Sir Suma Chakrabarti tells the Financial Times. Sub-Saharan Africa requires additional funding to meet the development and climate change goals set in 2015, he said. The bank’s solid capital base and “specialty in lending to private business...could help make […]
Posted inSpeed Round
Correction on OC’s capital reduction
CORRECTION- A major goof on our part yesterday morning in a story about our friends at Orascom Construction saw us incorrectly cite where the company is listed. OC has a primary listing on the Nasdaq Dubai and a secondary listing on the EGX. With working hours running from about 7:45am until 6am the next day, […]
Posted inUncategorized
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Posted inImage of the Day
How the Aswan Dam damaged the environment despite generating renewable energy
Egypt’s Aswan Dam is one example of just how much these types of structures can damage the environment. Although it keeps the Nile flood in check and produces renewable energy, the High Dam in Aswan has actually aided in the erosion of agricultural land and decline of land fertility in the Delta, since it has […]