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The SMEs Development Authority has signed a cooperation agreement with the International Organization for Migration (IOM) to fund SME projects for youths in an effort to combat illegal immigration, Al Mal reports. The new initiative, which comes as part of Egypt’s Vision 2030, will be based in Assiut, known to be one of the main […]
Author Archives: enterpriseam admin
Posted inEnergy
Egypt, Saudi delay selecting winning company on grid interconnection project until June
Egypt and Saudi Arabia have delayed selecting winning bids for the Saudi-Egyptian electricity grid interconnection project until June, Electricity Ministry sources tell Al Borsa. The committee which is reviewing offers needs to more time to sift through the technical specs of the companies bidding, the sources added. Alstom, ABB, and Siemens have submitted bids for […]
Posted inEnergy
Three companies qualify to submit financial offers for USD 8 bn Hamrawein coal plant
Three companies and consortiums — General Electric, Mitsubishi-Hitachi, and Shanghai Electric-Dong Fang — have qualified to submit their financial offers for the USD 8 bn, 6 GW “clean coal” plant, an unnamed Electricity Ministry source said, according to Al Mal. The three will be required to submit financial offers to the Egyptian Electricity Holding Company […]
Posted inEnergy
Sidi Kerir Petrochemicals signs gas, electricity supply contracts with GASCO, ETHYDCO
Sidi Kerir Petrochemicals (SIDPEC) signed yesterday a contract with the Egyptian Natural Gas Company (GASCO) to supply propane gas and another contract with the Egyptian Ethylene & Derivatives Company (ETHYDCO) to supply electricity for SIDPEC’s propylene and polypropylene factory, according to a statement to the EGX.
Posted inEnergy
UEEPC issues tender to upgrade transmission networks in Upper Egypt
The Upper Egypt Electricity Production Company (UEEPC) has issued a local tender to upgrade the transmission grid in the governorates of Sohag, Qena, Luxor, and Aswan, a company source tells Al Mal.
Posted inBasic Materials + Commodities
A glut in the rice market?
The Food Industries Holding Company will hold an auction on the 7 February for the sale of 22,000 tonnes of India rice after failing to distribute them through the ration card system, Supply Ministry sources told Al Borsa. The sources added that ration card holders were willing to purchase rice on the regular market due […]
Posted inBasic Materials + Commodities
Agriculture Ministry, NBE to provide animal farms with EGP 2 bn in loans
The Agriculture Ministry and the National Bank of Egypt (NBE) have agreed to provide animal farms with EGP 2 bn in loans at a 5% interest rate, Deputy Agriculture Minister Mona Mehreztells Al Borsa. The agreement comes as part of initiatives launched by the Agriculture Ministry and the CBE to finance SMEs.
Posted inBasic Materials + Commodities
Egypt buys 14% of Ukrainian soybean exports
Egypt is one of the principal buyers of Ukrainian soybeans after taking up 14% of the country’s exports, according to Black Sea Grain.
Posted inManufacturing
Al Safa to establish EUR 30 mn packaging plant in Mali
Al Safa for Printing and Packaging is establishing EUR 30 mn packing plant in Mali in partnership with Sadolim Financial Group, chairman of the board of directors Samir Al Baily told Al Borsa. Al Safa’s share in the project is 51% of which EUR 5 mn will come from the company itself and EUR 10 […]
Posted inHealth + Education
Health Ministry to meet with FE to discuss procedures for shutting down hospitals
The Health Ministry is meeting today with representatives from private hospitals and the Federation of Egyptian Industries’ (FEI) healthcare division to discuss procedures for the punitive closures, Al Borsa reports. The discussion will focus on hospitals found to be in violation of a government decision requiring hospitals to offer medical treatment to emergency cases for […]