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The New and Renewable Energy Authority (NREA) is planning to tender solar and wind projects with a combined production capacity of 400 MW, NREA head Mohamed El Khayat tells Al Borsa. Among these projects is a 20 MW solar power plant that will be funded by the Japanese International Cooperation Agency. The Electricity Ministry had […]
Author Archives: enterpriseam admin
Posted inEnergy
Egyptera renews electricity distribution, production licenses to 10 companies
The Egyptian Electric Utility & Consumer Protection Regulatory Agency (Egyptera) has renewed electricity distribution and production licenses for 10 companies, sources from the agency tell Al Borsa. The companies include TCI Sanmar, Majid Al Futtaim Properties, and Emaar Misr. Egyptera also approved granting FAS Energy and Alef Solar, which are taking part in phase 1 […]
Posted inEnergy
Negotiations underway for Finance Ministry to guarantee FiT payments
The Electricity Ministry is in negotiations with the Finance Ministry to issue payment guarantees of USD 3 bn for projects that are part of phase 2 of the FiT program,ministry sources told Al Mal. The EETC is expecting to pay EGP 3.3 bn per year for power from the FiT program.
Posted inBasic Materials + Commodities
Supply Ministry looking to reduce flour allocations for subsidized bread bakeries
The Supply Ministry is reportedly looking to reduce the amount of flour it provides to bakeries producing subsidized bread, an unidentified ministry source tells Al Mal. According to the source, the new system — which would come into effect today if approved — would cut down flour allocations to bakeries in urban areas to 70% […]
Posted inBasic Materials + Commodities
GASC purchases 25,000 tonnes of vegetable oil
The General Authority for Supply Commodities (GASC) has purchased 10,000 tonnes of sunflower oil and 15,000 tonnes of soybean oil,according to UkrAgroConsult. The deadline for the tender was today and the delivery is set for the first half of January 2018.
Posted inReal Estate + Housing
Housing Ministry considers fixed interest rates on PPP projects with developers
The Housing Ministry is considering holding interest rates on land purchases by developers steady for public-private partnership developments, Housing Minister Moustafa Madbouly said on Monday. The move would help reduce costs of land purchases by developers, who have been complaining that rising land prices have been a hindrance in expanding development, Madbouly said, according to […]
Posted inReal Estate + Housing
Beta Egypt raises its investments to EGP 6 bn
Beta Egypt for Urban Development has raised its real estate investments fourfold to EGP 6 bn, chairman Alaa Fekry said on Monday. The company has managed to grow its land bank to 100 feddans worth EGP 2 bn, he added. The company is expected to spend EGP 5 bn in projects in the Future City […]
Posted inReal Estate + Housing
Inertia achieves sales of EGP 2 bn in Jefaira North Coast project
Real estate developer Inertia already achieved sales of EGP 2 bn from phase 1 of its Jefaira project in the North Coast, according to Al Borsa. The company is targeting sales of EGP 3 bn for the first phase of the EGP 20 bn project, which will be completed over 15 years.
Posted inAutomotive + Transportation
Transport Ministry to announce winning offer for 1,300 new locomotives next month
The Transport Ministry is planning to announce the winning offer from international companies to supply 1,300 new locomotives for the National Railway Authority’s fleet next month, Minister Hisham Arafat said yesterday, Al Borsa reports. The ministry is currently deliberating between three rival bids from Italy, China, and a Hungarian-Russian consortium. The ministry had initially said […]
Posted inAutomotive + Transportation
Arafat meets with Danish ambassador and investor
Transport Minister Hisham Arafat met with the Managing Partner at AP Moller Capital Kim Fejfer to discuss investment opportunities in the transportation sector,according to Al Shorouk. The meeting comes ahead of a Danish investment delegation visit expected before the end of the year.