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Egypt signed four loan agreements with the French Development Agency (AFD) on Thursday worth a combined EUR 59.6 mn, according to an Investment Ministry statement. Under the agreements, the AFD will provide EUR 50 mn to financing SMEs run by women, EUR 8 mn to the development of the Alexandria tramway, EUR 1.5 mn to […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Sudan proposes establishment of joint border control task force with Egypt
Sudan has proposed establishing a joint military task force with Egypt to help protect shared border areas, Khartoum’s ambassador Abdel Mahmoud Abdel Halim said on Thursday, Al Masry Al Youm reports. Abdel Halim, who returned to his post last week after a two-month absence following an escalation of tension between the two countries, said that […]
Posted inDiplomacy + Foreign Trade
Briefly noted: Tehran is grumpy with us (shocker), El Sisi meets Bahrain's FM, India wants to talk textile ties
Otherwise worth noting in brief this morning: Egypt and Saudi Arabia’s “anti-Iran” claims are “groundless, bogus, and an insistence on the past harmful mistakes,” Iranian Foreign Ministry Spokesman Bahram Qassemi said, according to Tasnim News Agency. President Abdel Fattah El Sisi met with Bahrain’s Foreign Minister Sheikh Khalid bin Ahmad Al Khalifa on Thursday to […]
Posted inEnergy
EEHC to announce winning offer for Hamrawein power plant by April’s end
The Egyptian Electricity Holding Company (EEHC) is expected to announce the winning company or consortium for the 6.6 GW-capacity Hamrawein “clean coal” plant by the end of April, EEHC sources tell Al Borsa. The Orascom Construction-Elsewedy Electric-Mitsubishi Hitachi consortium is currently the frontrunner in the selection process, ahead of GE and a Shanghai Electric-Dong Fang-Hassan […]
Posted inInfrastructure
Gov’t extends bidding window for 6 October City dry port
The General Authority for Ports & Dry Land has extended the bidding window for the 100-feddan Six October City dry port project for an additional month, Al Borsa reported. The authority received several requests from interested investors to extend the deadline, which was initially set as last Wednesday, according to an unnamed source. The project, […]
Posted inBasic Materials + Commodities
Supply Ministry raises local rice buying price EGP 200 per tonne
The Supply Ministry has raised the price at which it is purchasing rice from local farmers for the subsidy system by EGP 200 per tonne to EGP 6,300 per tonne as rice barley prices have been on the rise, Al Borsa reports. Agricultural Exports Council member Mostafa El Nagary expects rice prices to continue rising […]
Posted inReal Estate + Housing
Housing Ministry selects six companies to develop Maspero Triangle
The Housing Ministry has selected six companies to work on developing the Maspero Triangle, unnamed ministry sources told Al Borsa. The ministry signed contracts with two companies thus far and expects to ink the remaining agreements within 10 days.
Posted inTourism
Culture Ministry to tender management contract for GEM in May
The Culture Ministry is planning to issue a global tender in May for the management of the Grand Egyptian Museum, Minister Khaled Anany told Al Mal. The ministry is currently preparing the tender’s terms and expects to drum up significant interest, Anany said. The soft opening of the USD 1 bn museum is slated for […]
Posted inTourism
Travco eyeing tourism project over 2.5 mn sqm in Alamein
Travco Travel Company of Egypt is hoping to establish a tourism mega project over 2.5 mn sqm in Alamein, company chief Hamed El Chiaty tells Al Shorouk, without disclosing any details on the cost of the project. The company is waiting for the approval of the Alamein City Council to receive the land plot.
Posted inBanking + Finance
FRA approves capital increase requests from MNHD, Porto Group, EG Bank, Naeem Holding
The Financial Regulatory Authority (FRA) approved on Thursday EG Bank’s request to raise its issued capital USD 22.5 mn to reach USD 365.3 mn, to be funded through its 2017 earnings, according to an EGX statement (pdf). The FRA also approved Naeem Holding’s request for a USD 21.9 mn capital increase to USD 240.4 mn; […]