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The Saudi Arabian and Egyptian governments are working on a joint industrial cooperation agreement that will aim to boost collaboration in certain strategic sectors, a Trade and Industry Ministry statement says. Minister Tarek Kabil discussed the agreement with his Saudi counterpart in Morocco yesterday on the sidelines of a World Trade Organization meeting in Marrakech.
Author Archives: enterpriseam admin
Posted inEnergy
Jordan’s Energy Minister looks to expand energy cooperation with Egypt
Jordan’s Energy Minister Saleh Kharabsheh is in Egypt to discuss expanding energy cooperation. Along with Oil Minister Tarek El Molla, he attended the signing of two MoUs between Jordanian Egyptian Fajr for Natural Gas Transmission & Supply, Fajr Egypt, the Egyptian Natural Gas Company (Gasco), and Egypt Gas. The first agreement will see the establishment […]
Posted inEnergy
Elsewedy Electric to financially close on Benban solar power plant in 10 days
Elsewedy Electric plans to reach financial close on its USD 70 mn solar power plant in Benban in 10 days, CEO Ahmed Elsewedy tells Al Borsa. Work on the project, which will be funded through the European Bank for Reconstruction and Development and the French Development Agency, will begin in 1Q2018, he added. The company […]
Posted inEnergy
Electricity Minister meets with delegation from African Development Bank
Electricity Minister Mohamed Shaker met with a delegation from the African Development Bank (AfDB) on Tuesday to discuss sector reform and future financing,according to AMAY. Funding from the bank is contingent on three aspects of reform; financial consolidation, growing the renewable segment, and improving the general business climate in Egypt.
Posted inInfrastructure
50 companies contracted to develop EGP 11 bn third phase of the national highways project
The Roads and Bridges Authority signed contracts with 50 companies to develop the third phase of the national highways project, authority chief Adel Turk tells Al Borsa. The third phase will see the construction of 1,180 km of highway at a cost of EGP 11 bn, he added. EGP 6.8 bn of that will be […]
Posted inBasic Materials + Commodities
Food exports to Europe rise 21%
The Food Export Council (FEC) said food exports to Europe rose 21% to USD 235 mn in the first eight months of the year as compared to the same period last year, Executive Director of the council Manar Nasr told Al Shorouk. The EU accounts for 12.5% of food exports, with Germany picking up the […]
Posted inBasic Materials + Commodities
Egypt was the second biggest buyer of Brazilian beef in September
Egypt was the second biggest buyer of beef from Brazil in September after importing 21.2k tonnes of beef, according to the Arab Brazilian Chamber of Commerce. Egypt’s Brazilian beef imports, coming at USD 73.7mn in September, were up 5.3% m-o-m, and were fuelled by purchases made by the Defense Ministry.
Posted inBasic Materials + Commodities
GASC purchases 170k tonnes of Russian wheat for EGP 1 bn
The General Authority for Supply Commodities (GASC) announced yesterday that it purchased 170k tonnes of Russian wheat for EGP 1 bn. The shipment is scheduled for a November delivery, according to Al Mal.
Posted inHealth + Education
Nasr inaugurates Siemens vocational training center
International Cooperation Minister Sahar Nasr inaugurated a vocational training center in Ain Sokhna set up in partnership with Siemens. The center aims to train 5,500 Egyptians over the next four years in technical fields needed by the Egyptian economy. Nasr says that 600 of those who complete the training program will be guaranteed a job.
Posted inReal Estate + Housing
MNHD contracted sales grow 13% y-o-y in 3Q2017
Madinet Nasr for Housing and Development (MNHD) reported that contracted sales for 3Q2017 grew 13% y-o-y to EGP 1.2 bn in a bourse filing on Tuesday (pdf). The growth was attributed to the continued rollout of consecutive launches at both Taj City and SARAI, said CEO Ahmed El Hitamy.