{"id":550181,"date":"2022-10-17T03:57:44","date_gmt":"2022-10-17T03:57:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/the-state-owned-electricity-company-will-pay-in-egp-for-imported-components-in-future-tenders\/"},"modified":"2022-10-17T03:57:44","modified_gmt":"2022-10-17T03:57:44","slug":"the-state-owned-electricity-company-will-pay-in-egp-for-imported-components-in-future-tenders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/the-state-owned-electricity-company-will-pay-in-egp-for-imported-components-in-future-tenders\/","title":{"rendered":"The state-owned electricity company will pay in EGP for imported components in future tenders"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>The Egyptian Electricity Transmission Company wants to pay in EGP for imported <\/strong><strong>components in its future tenders in a bid to save valuable FX<\/strong>, <a href=\"https:\/\/www.asharqbusiness.com\/article\/42881\">Bloomberg Asharq<\/a> reports citing an unnamed company source. Payments for foreign components, which usually make up 30 to 46% of any given tender, will reportedly be paid in EGP pegged at the exchange<\/p>\n<p><strong>State-owned <\/strong><strong>c<\/strong><strong>onsumer finance player <\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/onefinance-eg\/\">One Fina<\/a><\/strong><strong><a href=\"https:\/\/www.linkedin.com\/company\/onefinance-eg\/\">nce<\/a><\/strong><strong> has launched its services in the local <\/strong><strong>market<\/strong>, according to a <a href=\"https:\/\/ent.news\/2022\/10\/One-Finance-Press-Conference-Press-Release-EN.pdf\">press release (pdf)<\/a>. The state\u2019s Ayady Investments owns a 40% stake in One Finance, while the remaining 60% is split equally between microfinance player Tamweely and Post for Investment, Egypt Post\u2019s investment arm. The company aims to open eight branches nationwide before the end of the year, after obtaining its consumer finance license from the Financial Regulatory Authority in April.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>Edtech platform iSchool <\/strong>is reportedly looking to raise a<strong> USD 4.5 mn round <\/strong>by the end of year to enter Saudi Arabia and the UAE. (<a href=\"https:\/\/bit.ly\/3TrB4ki\">Al Mal<\/a>)<\/li>\n<li><strong>Huawei <\/strong>is reportedly among bidders to become the private-sector partner in the <strong>state\u2019s new <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/21e784be-7349-4e27-83df-6ad1cf203b93\">EV charging company<\/a><\/strong> (<a href=\"https:\/\/almalnews.com\/%D9%87%D9%88%D8%A7%D9%88%D9%89-%D8%AA%D9%83%D9%86%D9%88%D9%84%D9%88%D8%AC%D9%8A%D8%B2-%D8%AA%D8%B2%D9%88%D8%AF-%D8%B4%D8%B1%D9%85-%D8%A7%D9%84%D8%B4%D9%8A%D8%AE-%D8%A8%D8%B4%D9%88%D8%A7\/\">Al Mal<\/a>)<\/li>\n<li><strong>Everest Business School <\/strong>has closed an <strong>undisclosed funding round<\/strong> led by a strategic Kuwaiti investor and with the participation of angel investors. The fund will help the company expand across the MENA region. (<a href=\"https:\/\/ent.news\/2022\/10\/Everest-Business-School.pdf\">Statement, pdf<\/a>)<\/li>\n<li>Raya Holding subsidiary <strong><a href=\"http:\/\/rayafoods.org\/\">Raya Foods<\/a><\/strong> is considering building an <strong>EGP 500 mn <\/strong><strong>industrial complex.<\/strong> (<a href=\"https:\/\/bit.ly\/3THR5CP\">Al Mal<\/a>) <\/li>\n<li><strong>Abu Dhabi Islamic Bank <\/strong>is lending<strong> HoldiPharma EGP 3.4 bn <\/strong>to bring its meds production up to international standards in a bid to boost exports. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02vuHCSwVWDNERZ3jxZHJrdiUNoEhwnCwR3x4nDqFZp6pnKEFahKY1oXhdZwdykp2gl\">Statement<\/a>)<\/li>\n<li><strong>The<\/strong> <strong>Egyptian Navy <\/strong>has received the first of four <strong>MEKO A200-class <\/strong>frigates from Germany\u2019s<strong> Thyssenkrupp<\/strong>. (<a href=\"https:\/\/www.thyssenkrupp-marinesystems.com\/en\/newsroom\/press-releases\/press-detail-page\/major-ceremony-in-bremerhaven--egyptian-navy-accepts-first-frigate-from-thyssenkrupp-marine-systems-152108\">Statement<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Egyptian Electricity Transmission Company wants to pay in EGP for imported components in its future tenders in a bid to save valuable FX, Bloomberg Asharq reports citing an unnamed company source. Payments for foreign components, which usually make up 30 to 46% of any given tender, will reportedly be paid in EGP pegged at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,2551,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550181","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-egyptian-electricity-transmission-company","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"07dc4d30-c8f1-460a-abe5-8a0d77fde842","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[550157],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The state-owned electricity company will pay in EGP for imported components in future tenders - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/the-state-owned-electricity-company-will-pay-in-egp-for-imported-components-in-future-tenders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The state-owned electricity company will pay in EGP for imported components in future tenders\" \/>\n<meta property=\"og:description\" content=\"The Egyptian Electricity Transmission Company wants to pay in EGP for imported components in its future tenders in a bid to save valuable FX, Bloomberg Asharq reports citing an unnamed company source. 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The grant will help fund six projects in energy efficiency, renewable energy, technical education and vocational training, water management, and market competition.Also approved during the\u2026","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625963,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/27\/electricity-ministry-to-launch-tender-for-power-transmission-control-centers-in-cairo-and-alex\/","url_meta":{"origin":550181,"position":2},"title":"Electricity Ministry to launch tender for power transmission control centers in Cairo and Alex","author":"enterpriseam admin","date":"27 August 2018","format":false,"excerpt":"The Electricity Ministry is planning to launch a tender in September for the construction of two power transmission control centers in Cairo and Alexandria worth a combined EGP 1.5 bn, unnamed ministry sources tell Al Mal. Offers from Siemens, Schneider, General Electric, and NR Electric Co, will be given priority,\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573611,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/11\/eetc-cancels-tenders-for-setting-up-west-nile-wind-solar-power-plants\/","url_meta":{"origin":550181,"position":3},"title":"EETC cancels tenders for setting up West Nile wind, solar power plants","author":"enterpriseam admin","date":"11 August 2020","format":false,"excerpt":"The Egyptian Electricity Transmission Company (EETC) has canceled tenders for a 250 MW wind power plant and a 200 MW solar power plant in the West Nile Delta, the local press reports, citing a note sent by the EETC to bidding companies. The note did not explain the cancellation, but\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593296,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/24\/canal-distribution-co-to-launch-three-tenders-for-distribution-supplies\/","url_meta":{"origin":550181,"position":4},"title":"Canal distribution co. to launch three tenders for distribution supplies","author":"enterpriseam admin","date":"24 November 2019","format":false,"excerpt":"State-owned Canal for Electricity Distribution has issued three tenders for local companies for transformers, cables, and distributors, according to Al Mal.","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575244,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/eetc-settles-egp-1-6-bn-cost-sharing-bill-increase-with-benban-solar-companies\/","url_meta":{"origin":550181,"position":5},"title":"EETC settles EGP 1.6 bn cost-sharing bill increase with Benban solar companies","author":"enterpriseam admin","date":"7 October 2020","format":false,"excerpt":"Benban solar developers get EGP 300 mn reduction in cost-sharing bill: Solar power developers operating at the Benban solar power park have reached an agreement with the Egyptian Electricity Transmission Company (EETC) to lower the cost-sharing bill to EGP 1.6 bn from EGP 1.9 bn, the local press reports, citing\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/74.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=550181"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550181\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550157"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550181"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550181"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}