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Saipem and Petrobel have finalized engineering, procurement, construction and installation contracts worth USD 900 mn of Eni’s gas field Zohr’s development. The project includes the installation of a gas export pipeline, a service pipeline, and work for the field development in deep water of four wells and the installation of umbilicals. Work on the project […]
Author Archives: enterpriseam admin
Posted inInfrastructure
Government completes water projects worth EGP 5.41 bn in July
The government completed EGP 5.4 bn-worth of water infrastructure projects in July, Housing Minister Mostafa Madbouly said on Monday, according to AMAY.
Posted inBasic Materials + Commodities
Wheat imports to cost EGP 3 bn more than planned -source
Egypt’s wheat import bill is set to increase by EGP 3 bn from projected in the FY2017-18, a Finance Ministry source told Al Mal. The expected increase follows the Supply Ministry’s revised projection of having to import 7 mn tonnes of wheat during the fiscal year, from the 6.2 mn tonnes projected initially. Supply Minister […]
Posted inBasic Materials + Commodities
Restoration work, water intensive crops leading to water scarcity
Farmers are complaining of a shortage in irrigation water in Kafr El Sheikh, Sharqiya, Daqahliyah, Minya, and Menoufiya, Al Mal reports. The government is conducting restoration works on water conduit bridges which has restricted water flow, Farmers Union head Mohamed Farag says. Another reason behind the shortage is the seasonal scarcity that typically accompanies the […]
Posted inBasic Materials + Commodities
Environment Ministry signs off on manufacturing complex in Ain Sokhna
The Environment Ministry signed off yesterday on the environmental impact assessment for a new phosphate and compound fertilizers manufacturing complex at the Ain Sokhna Industrial Zone, Al Mal reports. The Defense Ministry’s El-Nasr for Intermediate Chemicals will be developing the project.
Posted inManufacturing
Indian garment maker to build EGP 1 bn textile factory in Egypt
Indian garment maker Classic Fashion Apparel is investing EGP 1 bn to establish a new textile factory in Egypt, Trade and Industry Minister Tarek Kabil said on Monday, according to AMAY. The Jordan-based company plans to break ground on the project in January 2018 and begin production later on in the same year. Classic Fashion […]
Posted inReal Estate + Housing
TMG denies plans to buy Alexandria Airport land
Talaat Moustafa Group Holding denied it is planning on buying the Alexandria Airport land plot, according to a bourse disclosure. The company confirmed that CEO Hisham Talaat Moustafa has travelled to Saudi Arabia to discuss cooperation with the Saudi Housing Ministry and that the company is also moving forward with resolving disputes with the New […]
Posted inTourism
Marsa Alam and Al-Quseir suffer continuing power outages
Marsa Alam and Al-Quseir have been suffering daily power outages, residents tell Al Masry Al Youm. While Al-Quseir is connected to Safaga with a low power line, the consumption of the city has surpassed its capacity. Marsa Alam suffers from the fact that its power stations often malfunction and the solar plant there lacks the […]
Posted inTelecoms + ICT
ISPs will bear part of the VAT cost if TE agrees on lowering infrastructure rent
Internet service providers are only willing to partially foot the bill for the 14% value-added tax on their services if Telecom Egypt (TE) agrees to lower its infrastructure rent fees, an unnamed company executive tells Al Mal. Infrastructure rent fees account for 80% of customer's’ monthly internet bills, he explained. We had noted before that […]
Posted inAutomotive + Transportation
GoBus license suspended after accident
The Roads and Bridges Authority suspended GoBus’ license after six died in an accident Friday,The Egypt Independent writes. The measure, announced by president of the authority Adel Turk, was taken as a precaution to allow time for an investigation of the safety standards of the company. However, in a conflicting report by Al Borsa, GoBus […]