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A delegation from Volkswagen met with Suez Canal Authority head Mohab Mamish on Thursday to discuss potential investment in the Suez Canal Economic Zone. The visit follows up on Mamish’s tour of Germany last year which meant to drive business towards the area, particularly in the fields of automotive, energy, and SMEs. Still nothing definitive […]
Author Archives: enterpriseam admin
Posted inEnergy
EEHC signs contracts for West Cairo, Walidiya power stations
The Egyptian Electricity Holding Company (EEHC) signed a supply agreement with Schneider Electric on Thursday to supply medium- and high-voltage air-insulated switchgear for the West Cairo and Walidiya power stations, Al Shorouk reports.
Posted inEnergy
GGF grants Banque du Caire USD 10 mn in energy conservation support
The European Investment Bank and KfW’s Green for Growth Fund’s (GGF) is providing Banque du Caire with USD 10 mn in funding to support green projects in Egypt, Al Masry Al Youm reports. This is the GGF’s third agreement of its kind in Egypt, having provided Alexbank with USD 20 mn in 2016 and the […]
Posted inReal Estate + Housing
Acumen-BPE gathers EGP 250 mn in investments
Acumen-BPE’s real estate fund has secured investments of over EGP 250 mn, Chairman Hany Tawfik said, Al Mal reported. The fund is planning to attract EGP 500 mn and was scheduled to begin marketing the Housing and Development Bank’s real estate fund last year but faced delays.
Posted inReal Estate + Housing
New Capital Company to stop tendering land for 18 months
The New Administrative Capital Company has decided to stop tendering land intended for residential mixed-use developments at the new capital for the next 18 months, government sources tell Al Borsa. The company plans to auction off more land for phase two of development in early or mid-2019.
Posted inTelecoms + ICT
NTRA to operate fixed-line licenses for MNOs in 2H2018
The nation’s three private mobile network operators will be able to operate virtual fixed-line phone services as of 2H2018, sources with knowledge of the matter tell Youm7. MNOs had purchased the fixed-line licenses back in 2016 at USD 11.26 mn a piece. Once the service comes on stream, MNOs will be allocated 3 mn phone […]
Posted inAutomotive + Transportation
Military Production Ministry to collaborate with Bombardier Transportation on railway equipment manufacturing
The Military Production Ministry signed an MoU with Bombardier Transportation that will see both sides cooperate on various national transport projects, Al Masry Al Youm reported on Friday. The ministry will be collaborating with Bombardier on manufacturing locomotives and other equipment needed for the new capital monorail project and the Cairo Metro’s Line 6. Bombardier […]
Posted inAutomotive + Transportation
Transport Ministry begins working on Alexandria-Cairo-Aswan express train
The Transport Ministry has begun working on the first phase of an express train connecting Alexandria, Cairo and Aswan, Minister Hisham Arafat announced on Friday, Al Masry Al Youm reports. The first phase will be connected to the existing railway between Cairo and Alexandria, Arafat tells the newspaper. The second phase, which is currently under […]
Posted inBanking + Finance
Egypt asks EU for EUR 1.5 bn loan, EUR 100 mn grant for energy and oil projects
Egypt has asked the European Union for a EUR 1.5 bn loan and EUR 100 mn grant to support projects in the energy and oil sectors, the EU’s Director for Neighbourhood South, Michael Köhler told the press in Cairo last week, Al Mal reports. The Egyptian government has presented the EU with a list of […]
Posted inBanking + Finance
NBE to manage Zohr foreign currency revenues
National Bank of Egypt (NBE) will be managing the foreign currency revenues generated from the Zohr gas field, Al Mal announced. NBE says it will provide the banking services required for the field’s operations directly and indirectly.