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Italgen is considering investing USD 350 mn in a 350 MW wind farm in Zaafarana, according to an emailed statement. CEO Giuseppe de Beni discussed the project with Investment and International Cooperation Minister Sahar Nasr.
Author Archives: enterpriseam admin
Posted inBasic Materials + Commodities
Sukari gold mine production drops 13% y-o-y in 1Q2017 -Centamin
Preliminary gold production from the Sukari gold mine declined 13% year-on-year in 1Q2017, while quarterly throughput declined 1%, Centamin announced yesterday, RTT News reports. Centamin is maintaining its target of producing 540K ounces this year.
Posted inManufacturing
LG to inject USD 130 mn in new investments in Egypt
LG Egypt plans to invest USD 130 mn in Egypt, Managing Director Don Kwack told Investment and International Cooperation Minister Sahar Nasr, according to an e-mailed statement. Expansion plans include its new washer machine line which is set to launch end of May to manufacture 100k machines per year, Kwack says. LG intends to establish […]
Posted inTourism
JWT’s promotional campaigns to focus on specific destinations in Egypt
The Tourism Ministry has decided to make specific tourist destinations and sites the focus of its promotional campaigns and suspended promoting Egypt as a whole in light of the recent attacks and the ensuing damage to the country’s brand, sources tell Al Shorouk. This moratorium will continue for the next several months. Tourism Development Authority […]
Posted inAutomotive + Transportation
GE offering to develop Egypt’s railway network
GE is in talks to supply Egypt’s railways with 100-200 train, 35% of which would be manufactured in Egypt. North East Africa’s President and CEO Ayman Khattab discussed the offer with Investment and International Cooperation Minister Sahar Nasr and Transport Minister Hisham Arafat, according to an e-mailed statement.
Posted inAutomotive + Transportation
Osta in talks with Egyptian and Arab investors to finance expansion plans
Local cab-calling app Osta is still in talks with a number of Egyptian and Arab investors to finance planned expansions, company chief Nader El Batrawi told Al Mal on Monday.
Posted inBanking + Finance
Orascom Development Holdings will delist EDRs on 18 April
Trading on Orascom Development Holdings Egyptian Depository Receipts on the EGX will end on 18 April, after the company sent it its official paperwork to voluntarily delist, according to a statement from the EGX on Monday picked up by Al Masry Al Youm.
Posted inOther Business News of Note
VFE’s domestic roaming offer to TE is not the first
The offer Vodafone Egypt (VFE) submitted to Telecom Egypt (TE) on Sunday to allow it to use parts of its network was an amended version of an earlier offer, VFE’s External Affairs and Legal Director Ayman Essam said on Monday, Al Borsa reports. We noted yesterday that former TE CEO Tamer Gadallah indicated that the […]
Posted inOther Business News of Note
Sawiris-owned RiverBank officially launches operations in Europe
Riverbank S.A, which is majority-owned by Egyptian businessman Naguib Sawiris, officially launched operations in Europe on Monday after receiving its license from the European Central Bank last month, Al Mal says. The bank specializes in SME-financing and will be focused on opportunities in the Benelux Union and Germany primarily.
Posted inOther Business News of Note
National Endowments Investment Company to begin developing EGP 300 mn residential project
The National Endowments Investment Company is beginning work on its EGP 300 mn residential development in Damietta Farscore, a company officials told Al Borsa on Monday.The company expects to complete the project, which has been on hold for two years due to insufficient funds, within a three-year timeline.