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The Military Production Ministry signed an MoU with Italy’s Monzesi this weekend that will see them establish a plant to make remote-operated milling equipment,according to Al Shorouk. No details on project financing or timeline have emerged.
Author Archives: enterpriseam admin
Posted inManufacturing
IDA organizing Chinese textile manufacturers’ visit to Sadat City for new industrial zone
The Industrial Development Authority (IDA) is arranging for 25 Chinese textile manufacturers to visit Sadat City to settle on a final location for the planned textile industrial complex, Youm7 reports. As we noted last week, the IDA is currently in talks with the Chinese companies, including Sino-Egypt Minkai, to set up a 2 mn sqm […]
Posted inHealth + Education
Gov’t to cover a third of the cost of healthcare premiums -Maait
The government will cover payments of healthcare premiums for those who cannot afford them under the new universal healthcare scheme, Vice Minister of Finance Mohamed Maait told Al Masry Al Youm. He says the Finance Ministry already plans to cover a third of the scheme’s cost, but did not mention how much it is going […]
Posted inHealth + Education
Cleopatra Hospitals looks to fund new acquisition through EGP 700 mn capital increase
Cleopatra Hospital Group plans to raise its issued capital to EGP 800 mn from a current EGP 100 mn by issuing 1.4 bn new shares to existing shareholders at a share price of EGP 0.5. The company applied for approval from the EGX after receiving clearance from the Egyptian Financial Supervisory Authority a few backs. […]
Posted inHealth + Education
AMECO and UK’s Kimal open USD 4 mn medical equipment plant in 6 October
The Arab Medical Equipment Company (AMECO) and UK medical devices manufacturer Kimal Plc have launched a USD 4 mn medical equipment plant in 6 October, according to a statement attributed to the UK embassy by Al Mal. The companies hope to export the plant’s goods to some 25 countries.
Posted inReal Estate + Housing
Hassan Allam Construction implementing EGP 1.4 bn worth of infrastructure works in new administrative capital
Hassan Allam Construction is implementing EGP 1.4 bn-worth of infrastructure projects at the new administrative capital, the company’s Managing Director for Financial Affairs Atef Barbary said, Al Masry Al Youm reports. The company has been mandated with constructing the new 8,000 sqm Justice Ministry building in the capital, which is expected to cost north of […]
Posted inTourism
Flights will begin landing at Sphinx International Airport in Giza in the summer of 2018
Flights will begin landing at Sphinx International Airport in Giza in the summer of 2018, Ahram Gate reports, citing remarks by Civil Aviation Minister Sherif Fathy. The minister also noted that the national flag carrier is pushing forward with the acquisition of 45 aircraft as part of a fleet upgrade, according to Al Masry Al […]
Posted inTourism
Port Said starts work on EGP 5 bn tourist project
Port Said Governor Adel Al Ghadban broke ground on a EGP 5 bn touristic project in the city on Saturday, according to Al Mal. The 102-feddan project will house a 200-room Hilton and a mall once it’s complete in four years’ time.
Posted inTourism
Thomas Cook resumes flights to Marsa Alam from Birmingham and Gatwick
Thomas Cook is set to revive flights to Marsa Alam from Birmingham and Gatwick this week after halting them for several years,according to Al Shorouk. Trips from Birmingham are set to resume on Monday with Gatwick following on Thursday. The decision comes as a result of increased demand for Red Sea travel.
Posted inAutomotive + Transportation
NRA’s purchase of 1,000 new train cars to cost EGP 16 bn
The National Railway Authority’s (NRA) planned purchase of 1,000 new train cars will cost EGP 16 bn, Transport Minister Hisham Arafat said at a press conference yesterday, Ahram Online reports. The purchases will be funded through facilitated loans, according to Arafat. The minister had previously said the NRA was deliberating two rival bids between Italy […]