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If the military carries out national projects, private companies should manage them, Abbas El Tarabily says in a column penned for Al Masry Al Youm. El Tarabily concedes that relying on the Armed Forces to build roads, bridges and “national projects” comes naturally in Egypt due to the institution’s reliability, but urges the state to […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Italian business delegation to visit Egypt next month
A delegation of Italian businessmen will visit Egypt next month for meetings with state officials to discuss potential investments, Al Borsa reports. Investors are interested in various sectors, including energy, oil and gas, and railway.
Posted inEnergy
El Molla in talks with Italy’s Tecnimont to increase Egypt investments
Oil Minister Tarek El Molla has met with Italian engineering and construction firm Maire Tecnimont’s Chairman Fabrizio Di Amato and CEO Pierroberto Folgiero to discuss cooperation on new petrochemical projects, Al Mal reports. The talks also covered expanding projects in Sidi Kerir and Suez.
Posted inEnergy
ACWA Power to finalize Dairut 2.4 GW plant agreement “soon”
Saudi Arabia’s ACWA Power may soon finalize a power purchase agreement with Egyptian authorities for the Dairut gas-fired 2.4 GW plant, CEO Paddy Padmanathan said, Reuters reports. The project has experienced delays as the Electricity Ministry remains undetermined on the location. Padmanathan also noted that nearly USD 14 bn in power plant project MoUs the […]
Posted inManufacturing
Dice to invest USD 3 mn in new equipment to boost production
Dice Sport and Casual Wear has borrowed USD 3 mn from QNB Alahli to finance expansion plans, Dice CFO and board member Victor Fakhry tells Al Mal. The company intends to purchase equipment for a new production line at its printing factory and add capacities to its Kafr El Dawar plant in order to boost […]
Posted inReal Estate + Housing
Appellate court rejects appeal by Golden Pyramids Plaza against arbitration case with OCI
A Court of Appeals rejected another appeal filed by Golden Pyramids Plaza against a court of arbitration ruling from March 2015, which ordered Golden Pyramids to pay Orascom Construction Industries (OCI) and Consolidated Contractors International EGP 260.8 mn and USD 43.4 mn plus interest, Golden Pyramids said in a bourse filing on Sunday (pdf). The […]
Posted inTourism
Rotana Group to operate new hotel in Fifth Settlement “soon”
The UAE’s Rotana Hotel Management Corporation will operate a new hotel in New Cairo’s Fifth Settlement in the coming period, Chairman Nasser Al Nowais tells Al Borsa. The Emirati businessman did not name the hotel or its owner, but said it was under construction and will take one to three years to complete.
Posted inTourism
Gemalto supplying CAI with passport scanners
French digital security firm Gemalto will supply Cairo International Airport with passport scanners that are meant to help expedite passport control procedures, according to Al Borsa. Details on the value of the agreement were not disclosed.
Posted inAutomotive + Transportation
Kabil inaugurates Egypt’s first electric vehicle charging station
Trade and Industry Minister Tarek Kabil has inaugurated Egypt’s first electric vehicle charging station, Al Mal reports. The station is the first of 65 phase-one charging points to be built by Revolta Egypt in seven governorates including Cairo, Alexandria, and Suez. The company is planning to import electric vehicles and install supporting infrastructure with initial […]
Posted inBanking + Finance
Naeem Holding considers investing in healthcare and education
Naeem Holding is considering investing in Egypt’s healthcare and education sectors and will announce a major investment decision by the end of February, Chairman Hussein Shobokshi tells Al Borsa. The Saudi businessman did not disclose details about the upcoming project, but said the company was also studying opportunities to invest in real estate.