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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 […]
Author Archives: enterpriseam admin
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, […]
Posted inReal Estate + Housing
Administrative Capital Company fails to reach agreement with CSCEC on government block
The Administrative Capital for Urban Development Company will build the government block using Egyptian contractors after failing to reach an agreement with the China State Construction Engineering Corporation (CSCEC), Chairman Ayman Ismail tells Al Masry Al Youm.
Posted inAutomotive + Transportation
Public Transport Authority to issue tender for 286 buses in two months
The Public Transport Authority will issue a tender for 286 buses in two months’ time, Al Borsa reported.
Posted inBanking + Finance
CI Capital to take on NIB restructuring
Investment firm CI Capital will be taking on the restructuring of the National Investment Bank (NIB), Amwal Al Ghad claims, citing unnamed sources “close to the matter.”