Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
A subsidiary of El Sewedy Electric signed an EGP 570 mn agreement with Upper Egypt Electricity Production Company for works on the 650 MW Assiut Power Plant, according to a bourse disclosure. The contract includes mechanical work on the plant and will be completed over 29 months. The agreement is one of three electrical and […]
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Parliament, government agree to set EGP 800 as minimum price for sugarcane
Government officials and House representatives agreed yesterday to increase the price of sugarcane purchased from farmers to EGP 800 per tonne, from EGP 650 previously, Al Mal reports. The House Agriculture Committee had been pushing for the government to raise sugarcane prices to EGP 1,000 per tonne.
Posted inManufacturing
Procedures for Suez petrochem complex initiated
The government has initiated procedures for the establishment of a petrochemical complex in Suez, Oil Minister Tarek El Molla said in a press statement carried by Ahram Gate. The USD 10.5 bn complex was announced back in July and comes as part the national strategy to turn Egypt into a petrochemical hub by boosting investments […]
Posted inTelecoms + ICT
TE says revenue growth could reach low double digit growth in 2018
Telecom Egypt (TE) announced that its board of directors approved its budget for 2018. TE expects total revenue growth to come in “the range of high single digit to low double digit,” EBITDA to be in the “mid to high twenties,” and CAPEX to sales ratio to be 30%.
Posted inTelecoms + ICT
SICO phones on sale second half of January
SICO plans to have their Egyptian-made smartphones in store shelves in the second half of January 2018, company President Mohamed Salem tells Al Shorouk. The company’s flagship device the Nile X was supposed to go on sale mid-December but the date was pushed after a large-scale theft of batteries occurred during a shipment.
Posted inAutomotive + Transportation
EgyptAir converts LoI for Bombardier C Series to firm order
EgyptAir has converted a letter of intent (LoI) to a firm agreement for the sale and purchase of 12 CS300 aircraft along with purchase rights for an additional 12 CS300 aircraft from Bombardier, the company announced. The LoI was announced in November at the 2017 Dubai Air Show. “Based on the list price of the […]
Posted inAutomotive + Transportation
GE to start work on upgrading old locomotives in a month
General Electric will start work on refurbishing 81 old locomotives in a month, a source at the Egyptian National Railway (ENR) tells Al Borsa. The upgrades come as part of a broader USD 575 mn agreement, under which GE will supply Egypt with 100 new locomotives. ENR is receiving a EUR 290 mn loan from […]
Posted inAutomotive + Transportation
Transport Ministry in talks with World Bank, EBRD for USD 160 mn loan
The Transport Ministry is in talks with the World Bank and the European Bank for Reconstruction and Development for a USD 150-160 mn facilitated loan to finance the Mansoura-Damietta freight line, Minister Hisham Arafat told the press on Sunday, Al Mal reports. The negotiations will likely wrap up within five months’ time, Arafat said. The […]
Posted inAutomotive + Transportation
Clarksons looking to establish bunkering facility in Egypt
Clarksons Shipping Agency (Clarksons) are looking to establish a new bunkering facility in Egypt, according to Ship & Bunker. The proposed facility is set to come with an estimated investment of USD 200 mn and would most likely be located in the Suez Canal Economic Zone. Negotiations are underway with what was described as “two […]
Posted inBanking + Finance
FRA approves issuance of EGP 1.1 bn securitization bonds
The Financial Regulatory Authority approved the issuance of around EGP 1.1 bn in securitization bonds by the Egyptian Securitization Company. The bonds are backed by the portfolio of Corporate Leasing Company (Corplease). CIB acted as the subscriber and custodian of the transaction with AAIB, Suez Canal Bank, and Banque Misr as the consortium of manager, […]