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Damietta Container & Cargo Handling Company is set to issue a global tender for the development of platforms at the Damietta Port, after having completed the designs for the expansions, company head Saad Zaghloul tells Al Shorouk. Zaghloul says the company is targeting increasing the number of containers it handles to 1.2 mn during the […]
Author Archives: enterpriseam admin
Posted inInfrastructure
Civil Aviation Ministry to arrange EGP 400 mn in funding for Airport City project
The Civil Aviation Ministry is looking to arrange EGP 400 mn to fund infrastructure projects at the Airport City project, Minister Sherif Fathy tells Al Shorouk. The ministry plans on completing the infrastructure works before putting up the project for a tender once again, according to Fathy. The tender had been postponed earlier this year […]
Posted inHealth + Education
Med prices are unlikely to increase again soon, says FEI’s pharma division
It is unlikely the Health Ministry will move to raise medication prices anytime soon since the FX rate has largely stabilized, deputy head of the Federation of Egyptian Industries’ pharma division Osama Rostom says, Al Mal reports. Rostom explained that the agreement the ministry had reached with pharma manufacturers back in January stipulated a review […]
Posted inReal Estate + Housing
NUCA rejects settlement offer from OHC on Haram City project
The New Urban Communities Authority (NUCA) reportedly rejected Orascom Housing Communities (OHC)’s settlement offer to buy the remaining 1380 feddans in the disputed Haram City housing project for EGP 35 per sqm, government sources tell Al Shorouk. The source added that NUCA is pushing for the land to be bought at current market prices which […]
Posted inReal Estate + Housing
Misr Italia looking to develop 1,000 feddans in new capital
Misr Italia Group is in talks with the New Administrative Capital Company for Urban Development to develop 1,000 feddans in the new capital, according to Al Shorouk.
Posted inTourism
Tourism delegation to lobby for the lifting of British travel ban on Sharm El Sheikh
The tourism delegation heading to London to participate in the World Travel Market (WTN) Monday will lobby for the resumption of British travel to Sharm El Sheikh,according to Al Shorouk. The Egyptian delegation will be working with British tour operators throughout the event, which is one of the biggest travel fairs in the world, to […]
Posted inAutomotive + Transportation
Gov’t to arrange USD 75 mn to purchase locomotive spare parts
The government is looking to arrange USD 75 mn to finance the purchase of locomotive spare parts for urgent maintenance work on the country’s trains, Transport Minister Hisham Arafat tells Al Ahram. No details were provided on whether the government is already in talks with potential suppliers, or the expected timeline of the purchase. Arafat […]
Posted inBanking + Finance
Evergrow receives EGP 1.2 bn syndicated loan
Evergrow for Specialized Fertilizers received a EGP 1.2 bn syndicated loan from a consortium of banks including Arab African International Bank, Abu Dhabi Islamic Bank and National Bank of Egypt, to finance the establishment of the Evergrow factory in the Sadat Industrial Zone. Sarie-Eldin & Partners was the legal adviser on the transactions, the firm […]
Posted inBanking + Finance
Banks want guaranteed to grant EgyptAir USD 870 mn loan
Banks in talks with EgyptAir over a USD 870 mn loan to revamp its fleet are stipulating that the facility be guaranteed by the Finance Ministry,banking sources told Al Shorouk. Reports emerged in October that the airline is seeking a loan of USD 870 mn to finance a portion of its purchase of new aircraft. […]
Posted inBanking + Finance
Suez Steel in talks for EGP 1 bn loan to fund expansions
Suez Steel initiated talks with a number of local banks to secure a EGP 1 bn loan to finance operations and an upcoming expansion,banking sources told Al Shorouk.