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Foreign Minister Sameh Shoukry is scheduled to meet Ugandan President Yoweri Musevini today to discuss water security and cooperating with the Nile Basin countries, Ahram Gate reports. Uganda is set to host the Nile Basin Initiative’s first presidential summit later this month.
Author Archives: enterpriseam admin
Posted inEnergy
OC fully withdraws from FiT phase two projects
Orascom Construction (OC) has fully withdrawn from feed-in tariff phase two projects entirely, Al Mal reports. Concessions Director Khaled El Degwy says the withdrawal is likely because the project is no longer financially feasible and that OC is ready to return the land it was allocated for a 50 MW solar power plant in Benban. […]
Posted inEnergy
EEHC receives 3 offers for Hamrawein
The Egyptian Electricity Holding Company received three offers from American, Chinese, and Japanese conglomerates for the 6,000 MW Hamrawein “clean coal” power plant, unnamed Electricity Ministry sources tell Al Borsa. The plant is expected to take seven years to complete, with an investment value of as much as USD 10 bn. We like energy. Lots […]
Posted inEnergy
EEHC chief in Riyadh for talks on Saudi power linkage project
Egyptian Electricity Holding Company (EEHC) Chairman Gaber El Dessouki is in Riyadh to the link-up of the Saudi and Egyptian electricity grids, Al Masry Al Youm reports. The interconnection project will see Egypt and KSA exchange up to 3 GW of electricity, with trial operations slated to begin in 2019.
Posted inEnergy
NREA to begin receiving offers for 250 MW Gabal Al Zait wind power station on 20 May
The New and Renewable Energy Authority will begin receiving offers for a 250 MW wind power station in Gabal Al Zait as of Saturday, 20 May, sources tell Al Borsa. Ten companies, including Siemens, Axion, and Vestas, are expected to bid. The project will be financed by global institutions including Germany’s KfW and the European […]
Posted inInfrastructure
AOI to develop EGP 700 mn water stations in Ismailia
The Arab Organization for Industrialization reached an agreement to develop two water stations in Ismailia at a total cost of EGP 700 mn, Al Borsa reports. The stations are expected to be completed by the end of September.
Posted inBasic Materials + Commodities
Winvest sells majority stake in Seven Sky for EGP 40 mn
Winvest Capital for Development and Investment (WCDI) has completed its exit from food producer Seven Sky, the owner of the Kenzy brand, according to Al Mal. A consortium of businessmen, led by Seven Sky’s Chairman Sherif Ghaly purchased WCDI’s 51% stake for EGP 40 mn. WCDI had increased its stake in Seven Sky to 51% […]
Posted inBasic Materials + Commodities
Gov’t bought 237k tonnes of wheat from local farmers so far
Egypt bought 237k tonnes of wheat from farmers since the start of the local harvest season early April, the Supply Ministry said, according to Reuters. Minister Ali El Moselhy had said the government is targeting buying about 3.8 mn tonnes of wheat from local farmers throughout the current harvest season, which runs until the end […]
Posted inManufacturing
Trade Ministry to launch eight industrial complexes in Upper Egypt mid-May
The Trade Ministry is planning to launch eight licensed industrial complexes in Upper Egypt in mid-May, Trade Minister Tarek Kabil announced on Friday, Al Masry Al Youm reports. The complexes, each of which has the capacity to accommodate up to 200 factories, are in Sohag, Assiut, Qena, Beni Suef, Fayoum, Luxor, and Aswan.
Posted inReal Estate + Housing
Oriental Urban Development to invest EPG 4 bn in 2017-18, mulls 2018 IPO
Oriental Weavers Group subsidiary Oriental Urban Development is planning on investing EGP 4 bn in Egypt during 2017-18 to develop a mix of touristic and residential projects on some 5 mn sqm of company-owned land, according to owner and founder Mohammed Farid Khamis, Al Borsa reports.