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Marsa Alam’s first solar-powered desalination plant, courtesy of KarmWater
The plant is currently 30% powered by solar
Last week was heavy on investment news + keep an eye out for more privatization updates next week
Good morning, friends, and happy FRIDAY. It’s the last Friday before June — which means we’re inching ever closer to…
Orascom Construction, Metito to build USD 2.4 bn desalination plant in Abu Dhabi. PLUS: Standard Chartered eyes Egypt, FX crisis hits Arab Alloys industrial complex
The project will process more than 500k cbm of seawater per day
A look at the government’s spending plans for the Hayah Karima initiative in FY 2023-24
Completing the initiative’s first phase is the top priority, with EGP 150 bn earmarked
Swvl closer to regaining compliance with Nasdaq audit regs
Company appoints Ayman Ismail to audit committee, a month after two of its members resigned
Climate change — and human behavior — are shrinking the world’s biggest lakes + Airlines are growing their first-class seat offerings
A study used satellite imagery to measure lake water levels for three decades
FinMin announces temporary VAT exemption on imported machinery and equipment. PLUS: Microfirms can borrow more, new PwC center,
Ministry didn’t disclose how long the exemption will remain in place
Orascom Construction sells chemicals subsidiary for EGP 1.8 bn
OC plans to allocate the proceeds to “growth and value-accretive areas”
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