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The Trade and Industry Ministry expanded the role of the Egyptian Export Promotion Center, turning it into its top authority on export policy, Al Borsa reported. The center will take the lead on executing the ministry’s strategy for boosting exports, according to Minister Tarek Kabil.
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Posted inDiplomacy + Foreign Trade
Nasr meets with UN to determine operating framework for the coming five years
International Cooperation Minister Sahar is holding meetings with UN officials to set a working framework for its operations in Egypt for the coming five years, according to an email statement.
Posted inEnergy
New project to produce 400k tonnes of butane -Oil Ministry
The Assiut Oil Refining Company (ASORC) is building a new EGP 187 mn project to produce butane at an annual rate of 400k tonnes, Oil Minister Tarek El Molla told Al Shorouk. The project will double ASORC’s daily production from 60 tonnes to 120 tonnes, said Chairman Nagy Kassab, which will increase to 190 tonnes […]
Posted inEnergy
EGPC will supply all petroleum products from refined Iraqi crude domestically
EGPC intends to channel all the petroleum products produced from refining Iraqi crude domestically and will not export them, unnamed officials tell Al Mal. We had earlier reported that Egypt will send a delegation to Iraq to finalize an agreement to import 1-2 mn bbl of crude, and the Oil Ministry has already proposed freeing […]
Posted inEnergy
EEHC signs MoU with Ganoub El Wadi Petroleum, AERT Corp to study converting oil shale to electricity
The Egyptian Electricity holding Company (EEHC) signed an MoU with Ganoub El Wadi Petroleum Holding and the Advanced Environmental Recycling Technologies (AERT) to study a project to convert oil shale from Ganoub El Wadi’s concessions to fuel and electricity, Al Borsa reported.
Posted inInfrastructure
Cabinet agrees to establish EGP 350 mn industrial waste treatment plant in Port Said
The Ismail cabinet approved the establishment of a EGP 350 mn industrial wastewater treatment plant in the South Port Said industrial zone, according to a cabinet statement.
Posted inBasic Materials + Commodities
Consortium looking to raise USD 700 mn to build phosphoric acid and phosphorous fertilizers factory
A consortium of seven public companies is pursuing a USD 700 mn loan to build a phosphoric acid and phosphorous fertilizers factory in the New Valley, unnamed government sources tell Al Mal. The factory will produce phosphoric acid and phosphorous fertilizers with an annual capacity of 500k tonnes, the source added. The companies participating include […]
Posted inManufacturing
AOI-affiliated SEMAF railway factory in talks with Hyundai Rotem to manufacture 1,314 freighter units for USD 500 mn
The Arab Organization (AOI) for Industry-affiliated railways factory SEMAF is in talks with Korea’s Hyundai Rotem to build 1,314 freighter cars, which the AOI will export to Mozambique, Al Borsa reported. The estimated value of the agreement is USD 500 mn and about 60-80% of the needed inputs will be sourced locally, factory Chairman Abdul-Rahman […]
Posted inHealth + Education
Health Ministry announces details of agreement with Pharmacists’ Syndicate
The Health Ministry is promising that it will pass the responsibility of clearing pharmacies of expired meds on to pharma companies, in another capitulation to the tantrums of the Pharmacists Syndicate. Pharma companies must now reimburse pharmacists for expired products without receipts, ministry spokesman Khaled Megahed confirmed to Al Shorouk. .
Posted inHealth + Education
Suppliers of state hospitals complain of being squeezed by the gov’t
The government is apparently squeezing government hospital suppliers, and is using the Auctions and Tenders Act to do it, said the head of the medical equipment division of the Cairo Chambers of Commerce Ismail Abdo. He says the government has not yet increased the prices of medical supplies and equipment to accommodate the EGP float, […]