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Trade and Industry Minister Tarek Kabil discussed increasing the International Finance Corporation’s (IFC) investments in Egypt during a meeting with an IFC delegation last Thursday, Al Mal reports. The IFC is eyeing investments in energy, fertilizer and petrochemical production, service, and agricultural projects, in addition to SMEs, according to Kabil.
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Turkish Businessmen’s Association meets with IDA to lobby for Turkish Industrial Zone
The Turkish Egyptian Businessmen’s Association will meet with officials from the Industrial Development Authority to lobby for the establishment of a EGP 3 bn Turkish industrial zone sometime next month, the association’s head Atilla Ataseven said, according to Al Borsa. The association will also meet with officials from the ministries of investment and trade and […]
Posted inDiplomacy + Foreign Trade
Delegation of Brazilian businessmen to visit in April
A Brazilian business delegation will visit in April 2018 to discuss opportunities for trade and cooperation, board member of the Chemical & Fertilizers Export Council Mostafa El Gebaly said in statements picked up by Youm7.
Posted inInfrastructure
CMA CGM signs MoU to manage container terminal in East Port Said
French shipping group CMA CGM has signed an MoU with the Suez Canal Authority which would see it manage the USD 765 mn container terminal in the port of East Port Said, authority head Mohab Mamish announced on Sunday, according to Al Borsa. A delegation from the company is due to arrive on Tuesday for […]
Posted inBasic Materials + Commodities
Egypt has enough wheat to meet consumption until April
Egypt has enough wheat to meet consumption needs until the beginning of the harvest season in the second half of April, Supply Ministry spokesman Mamdouh Ramadan told Reuters. “The ministry said earlier this month that Egypt had wheat reserves totalling 3.4 mn tonnes. Ramadan did not give an updated reserves figure.”
Posted inManufacturing
AOI in talks with Polish company to build tractor factory in Egypt
The Arab Organization of Industrialization (AOI) has begun talks with an unnamed Polish company to set up a tractor factor in Egypt which will source 40% of its production inputs locally, AOI Chairman Abdel Sadek Abdel Raheemtells Al Borsa. He added that an MoU had been signed between the two companies to study the project […]
Posted inManufacturing
GMC to invest EGP 165 mn in 2018
GMC Group For Industrial Commercial and Financial Investments plans on investing EGP 165 mn in 2018, President Mohamed Geneidy said in statements picked up by AMAY. The investments include spending EGP 50 mn on increasing production capacity of its factories producing washing machines and freezers and the development of new production lines for other household […]
Posted inTelecoms + ICT
Nile’s Eleven — SICO phone sales delayed due to battery theft
In a story that could only come out of an Egyptian parody of Ocean’s Eleven, SICO Technology is delaying the first batch of their locally produced phones for three weeks after suffering a theft of around 15,000 batteries during a delivery, company President Mohamed Salem told Al Mal. The theft was discovered at the battery […]
Posted inAutomotive + Transportation
Salini Impregilo in talks to possibly take part in developing Cairo Metro Line 5
Transport Minister Hisham Arafat met with a delegation from Italian engineering firm Salini Impregilo to discuss possibly bidding on developing Cairo Metro Line 5, Al Mal reports. The two sides also discussed other transport projects Salini Impregilo could invest in.
Posted inBanking + Finance
NBE, Banque Misr to provide USD 580 mn in trade finance for Dabaa NPP project
National Bank of Egypt (NBE) and Banque Misr have approved issuing trade finance facilities worth a total of USD 580 mn to the Nuclear Power Plants Authority (NPPA) to fund the requirements for Dabaa project, Al Mal reports. NBE will provide letters of guarantee worth USD 230 mn to be used for imports of project […]