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Logistics (MENA) 
BP to invest USD 400 mn in two new wells. PLUS: Agiba, Pickalbatros, Juba, Alexandria Port Authority, El Araby Group, carbon credits
The two wells will add a combined daily 400 mn cubic feet of gas to BP’s output
Auto distributors push for more locally-assembled vehicles to make up for import restrictions. PLUS: Somabay + Redcon, SODIC, TMG, Mass Developments, EFG Hermes, Kima
A group of companies that assemble vehicles led by GB Auto have agreed to increase their allocations to accredited distributor
Mountain View begins Saudi expansion with first land acquisition in the kingdom. PLUS: HBS International, Mubasher Capital, nauTix, Orascom Construction + Hitachi + Colas Rail, Samnoud Textiles
Mountain View has acquired its first plot of land in a “strategic location” in Riyadh
Kasrawy Group mulling new factory to assemble Jetour, Jac autos. PLUS: Basata + MadfoatCom, Dice + Twin Top, Saint-Gobain, Fertiglobe + Orascom Construction + Scatec, Siemens
The government is now working on allocating land for the firm to build its factory
Fertiglobe rubber stamps EUR 397 mn green ammonia offtake agreement with Germany’s H2Global. PLUS: Oil found, mystery Chinese auto company eyes Egypt, Japanese schools in the works, flight incentives
The move comes over a month after Fertiglobe was selected as the winning bidder in H2Global’s pilot auction
Stellantis in talks with gov’t to start assembling Fiat, Citroen, and Opel models locally. PLUS: SODIC, CIB + Chemicals & Fertilizers Export Council, Misr Ins., Eaton, MSMEDA
Stellantis was one of several car makers that expressed interest in the Egyptian Automotive Industry Development Program
Gov’t cracks down on electricity theft with higher tariff for those caught. PLUS: Egypt-Italy power link, veterinary vaccine factory
Electricity being consumed by buildings illegally will come at the hefty cost of EGP 2.15 per kWH
Pharma sector requests raw ingredient customs breaks, packaging VAT breaks. PLUS: pharma monopolies beware, Menthum + CI Capital, Palm Hills Developments, Kraft Heinz
Around 90% of the raw materials used in the pharma industry are imported
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