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EETC signs supply and supervision contract with Siemens
The Egyptian Electricity Transmission Company (EETC) has signed with Siemens Egypt and Siemens Transformer a supply and supervision contract worth…
Earnings watch: Elsewedy Electric net profits fall 32% in 1Q2019
EARNINGS WATCH- Elsewedy Electric reported a 32% y-o-y drop in net profit to EGP 957.2 mn in 1Q2019, down from…
Edra and Blackstone’s Zarou express interest in operating Siemens power plants
INVESTMENT WATCH- Blackstone portfolio company and Edra express interest in operating Siemens power plants: Blackstone Group’s Zarou and Malaysian company…
Egypt saves USD 350 mn a year from energy efficiency improvements in refining
The government is saving some USD 350 mn each year due to energy efficiency improvements in oil refineries, a source…
Egypt to release in August conditions for newly introduced “falling auction” tenders
The government will unveil in August the conditions for 600 MW-worth of solar projects that will be tendered under a…
Bread prices in Egypt to remain unchanged after July’s electricity price increases
The price of subsidized bread will remain unchanged despite the expected increase in costs when average electricity prices rise 15%…
El Sisi says Africa moving forwards towards development
Egypt’s Africa Day celebrations yesterday are front and center on the front pages of Al Ahram and Al Akhbar this…
BP close to selling GUPCO stake to Dragon Oil for USD 600 mn
M&A WATCH- BP is close to selling its stake in Gulf of Suez Petroleum Company (GUPCO) to Dubai-based Emirates National…
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