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Palestinian President Mahmoud Abbas was scheduled to meet with Egyptian President Abdel Fattah El Sisi in Cairo on Sunday, Palestine’s ambassador to Egypt Gamal El Shobky announced yesterday, Ahram Gate reports. Unnamed Palestinian sources in Ramallah are alleging though that Abbas’ trip was canceled after El Sisi told the Palestinian president “he would not discuss […]
Author Archives: enterpriseam admin
Posted inEnergy
Electricity Ministry taps 4 companies in bid for maintenance and operations contract for Siemens plants
Four companies are reportedly bidding for the the Electricity Ministry’s tender for maintenance and operations at the new Siemens power plants, Al Borsa reports. Siemens, Germany’s Steiaj, an Orascom-ADERA Energy consortium, and an Elsewedy-EDF consortium have submitted their technical offers for the tender to the Egyptian Electricity Holding Company (EEHC), which intends to finish reviewing […]
Posted inEnergy
Military Production Ministry receives funding offers for USD 2 bn solar panel factory from EBRD, Chinese and Korean institutions
The Military Production Ministry received funding offers for its USD 2 bn solar panel factory from the European Bank for Reconstruction and Development as well as Chinese and Korean institutions, Minister Mohamed Al Assar tells Al Borsa. The ministry has yet to decide on a funding scheme for the project, which will include a solar […]
Posted inEnergy
Hassan Allam starts breaks ground at West Cairo power plant
Hassan Allam broke ground on civil work at the 650 MW West Cairo power plant for some c. EGP 1.1 bn in investments, Al Mal reported on Tuesday. The firm is days away from signing a funding agreement with the Islamic Development Bank to finance the EGP 6 bn project, which should come on stream […]
Posted inInfrastructure
Alexandria Containers and Cargo Handling cuts handling fees by 20% for eight services
The Alexandria Containers and Cargo Handling Company decided to reduce container handling fees by c. 20% for eight of its services starting August, Al Mal reported on Tuesday. The move is a bid to attract customers after the recent fuel price hike, which is expected to have an inflationary effect on shipping and transport fees. […]
Posted inHealth + Education
ACDIMA opens EGP 800 mn pharma factory
The Arab Company for Drug Industries and Medical Appliances (ACDIMA) established an EGP 800 mn pharma plant to manufacture hormone meds, plant manager Samir Thabet tells Al Borsa. The company, which owns a controlling 55% stake, is targeting EGP 300 mn in sales from the plant by year’s end.
Posted inReal Estate + Housing
Heliopolis Housing signs two contracts with Magic Dreams over Merryland Park
The Heliopolis Company for Housing and Development (HCHD) resolved its dispute with Magic Dreams and signed two new leasing agreements with the company for Merryland Park that extend to February 2032, HCHD said in an EGX filing. Magic Dreams has settled debts worth EGP 5 mn with HCHD and will pay another EGP 7 mn […]
Posted inReal Estate + Housing
Zayed Edge to tender EGP 600 mn mall
Zayed Edge will issue a tender in two weeks for a 14-feddan, EGP 600 mn mall in the Cairo suburb of Sheikh Zayed, Al Borsa reports.
Posted inTourism
It’s spa season in Siwa
Medical tourism season at the Siwa Oasis kicked off this month, according to an Environment Ministry statement. The season runs until September and offers visitors an array of natural treatments. Last year saw around 5,500 tourist patients flock into the city, mostly from Saudi Arabia, UAE, Kuwait and Libya, according to ministry statistics.
Posted inNational Security
At least two policemen killed, 10 injured in IED explosion in North Sinai
Two policemen were killed and 10 others were injured in an explosion in North Sinai’s Al Arish, Middle East News Agency reports, the Middle East New Agency reports. Reuters puts the death toll at three.