{"id":582475,"date":"2023-03-06T00:00:00","date_gmt":"2023-03-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/06\/chinese-investors-are-looking-at-the-sokhna-industrial-zone-plus-jordan-electricity-link-another-sawiris-football-acquisition-and-more\/"},"modified":"2023-03-06T00:00:00","modified_gmt":"2023-03-06T00:00:00","slug":"chinese-investors-are-looking-at-the-sokhna-industrial-zone-plus-jordan-electricity-link-another-sawiris-football-acquisition-and-more","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/06\/chinese-investors-are-looking-at-the-sokhna-industrial-zone-plus-jordan-electricity-link-another-sawiris-football-acquisition-and-more\/","title":{"rendered":"Chinese investors are looking at the Sokhna Industrial Zone. PLUS: Jordan electricity link, another Sawiris football acquisition, and more"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INVESTMENT- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/span><span style=\"font-weight:700\"> SCZone talks with Chinese investors: <\/span><span style=\"\">A high-level delegation from<\/span><span style=\"\"> one of China\u2019s<\/span><span style=\"\"> <\/span><span>largest industrial areas<\/span><span> discussed potential investment in the Sokhna Industrial Zone and support for ongoing Chinese projects with representatives from the Suez Canal Economic Zone (SCZone) yesterday, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02zCuxpV8gw6EDVtPzzdBwpxb9DWYVNvefe9rncZcQRsve2SATqNCxTEEEZ4aJ2eykl\" style=\"\">SCZone statement<\/a><\/span><span>.<\/span><span> The<\/span><span style=\"font-weight:400;\"> two sides are coordinating to put in place incentives to attract Chinese companies to the zone. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SCZone heads east next month:<\/span><span> SCZone CEO Walid Gamal El Din was invited by the delegation to return the visit in April. A delegation of major Chinese companies is also planning to come to Egypt soon to study potential projects, the statement read. Gamal El Din last month said he could be <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/23\/this-morning-the-sczone-could-be-heading-to-china-basharsoft-just-trialed-a-four-day-work-week-and-the-results-were-impressive-97673\/\" style=\"\">making his way to China soon for a roadshow<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ENERGY- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More electricity for Jordan? <\/span><span style=\"\">Egypt could increase the capacity of its electricity line with <\/span><span>Jordan to up to 3 GW from its current 550 MW, Prime Minister Moustafa Madbouly told Iraqi Prime Minister Mohammed Shia Al Sudani yesterday, according to a cabinet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02frmdLTMd4ZZpeCaxYeRVxUC6h8dfUzCV5XTZwvJP3WEM8NViDZQGVq4fNLSsh63ol\" style=\"\">statement<\/a><\/span><span>. The two sides have been in talks to raise the capacity of the link to 1 GW <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/02\/22\/lots-of-cooperation-with-jordan-on-logistics-agriculture-and-education-65577\/\" style=\"\">since early 2022<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">INFRASTRUCTURE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">One step closer to Tarboul Industrial City: <\/span><span style=\"\">Real estate developer GV Developments <\/span><span>and Qalaa Holdings\u2019 Taqa Arabia have signed an agreement to set up a company to build the infrastructure at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tarboul.com\/\" style=\"\">Tarboul Industrial<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tarboul.com\/\" style=\"\">City<\/a><\/span><span> in Giza<\/span><span>, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/GV-Developments-and-TAQA-Arabia-EN-PRL.pdf\" style=\"\">press release (pdf)<\/a><\/span><span>.<\/span><span> <\/span><span style=\"font-weight:400;\">Tarboul Infra will be responsible for building and operating utilities at the planned city. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SUEZ CANAL-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Not another Ever Given debacle: <\/span><span style=\"\">A Liberia-flagged container ship en route to Portugal ran <\/span><span>aground in the Suez Canal yesterday for a hot minute before four tugboats <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SuezCanalAuthorityEG\/posts\/pfbid02oBNy7fQUQEHVM57qYkwNjAVzZCY8esjSMG8EQsKUwYsMJYpRp24wHXYANbsjYN4Hl\" style=\"\">managed to refloat<\/a><\/span><span>it, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SuezCanalAuthorityEG\/posts\/pfbid02CjP1Gcta3HSf3ECjL76t6GbhpGwhKznmVETNBZCNHgYYpzFA8nppm9iEcHkBcm8Vl\" style=\"\">Suez Canal Authority said<\/a><\/span><span style=\"font-weight:400;\">. Traffic at the canal was not affected by the incident, with ships passing through the waterway normally.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">SPEAKING OF WHICH<\/span><span style=\"font-weight:700\">-<\/span><span style=\"font-weight:700\"> Two years later, Ever Given is still making headlines: <\/span><span style=\"\">Dutch marine response firm <\/span><span>SMIT Salvage, the firm responsible for refloating Ever Given after it ran aground in the Suez Canal, is suing the ship\u2019s owner Ever Green claiming it didn\u2019t receive the appropriate financial compensation for its work, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-02\/suez-canal-rescuers-want-larger-payout-for-freeing-ever-given\" style=\"\">Bloomberg<\/a><\/span><span>. This comes as we approach the two-year anniversary of the giant container ship <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/03\/24\/the-great-suez-traffic-jam-continues-36136\/\" style=\"\">blocking the vital trade artery<\/a><\/span><span style=\"font-weight:400;\"> for almost a week.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">M&A WATCH-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Sawiris is getting a chunk of Vitoria SC: <\/span><span style=\"\">Nassef Sawiris\u2019 holding company V Sports <\/span><span>will purchase 46% of the Portuguese Vitoria SC for EUR 5.5 mn, after the club\u2019s shareholders voted for the acquisition, the club said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/vitoriasc.pt\/en\/2023\/03\/04\/socios-aprovam-por-larga-maioria-a-parceria-entre-o-vitoria-sc-e-o-v-sports\/\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\"> yesterday. Some EUR 2 mn of the money V Sports will invest in the club will go towards its infrastructure. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This will be the company\u2019s second club:<\/span><span> V Sports, owned by Sawiris and American bn\u2019aire Wes Edens, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.avfc.co.uk\/News\/2018\/07\/20\/club-statement-investment-in-aston-villa\" style=\"\">bought a 55% stake<\/a><\/span><span> in Premier League club Aston Villa in 2018.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ECONOMY-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Cabinet\u2019s IDSC hears from experts on macro matters: <\/span><span style=\"\">The cabinet\u2019s Information and <\/span><span>Decision Support Center (IDSC) held a forum on financial policy and debt sustainability attended by 22 senior bankers, economists, officials, and business owners, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0TSCj4UWo7M4W6gBvvLW6AWSn46ucZdaHCJ8m5eL4fgJZrkmrDn7NzuKiE5KkMu5El\" style=\"\">cabinet statement<\/a><\/span><span>. The forum touched on the IMF-backed reform program and privatization strategy, ways to boost FX inflows, steps to integrate the informal economy and widen the tax base, and our sovereign sukuk issuance last month, among other topics. The IDSC is set to incorporate the experts\u2019 contributions in a forthcoming research project on how to handle global economic challenges this year and next. This is the eleventh such forum it has run of a planned 20. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DEVELOPMENT FINANCE-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A fresh World Bank grant to tackle waste: <\/span><span style=\"\">The World Bank will grant the <\/span><span>government\u2019s Greater Cairo pollution reduction project a USD 9.1 mn grant to improve the management of e-waste and healthcare waste disposal systems, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02q5a3Besoj1D9WLkDBKFc5mTpnYGpN1oSa6RGKqhmbFGUYTn5WMQxV2c3thb45yRFl\" style=\"\">cabinet statement<\/a><\/span><span>. The funding will be disbursed by the lender\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fiftrustee.worldbank.org\/en\/about\/unit\/dfi\/fiftrustee\/fund-detail\/gef\" style=\"\">Global Environment Facility<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTMENT- SCZone talks with Chinese investors: A high-level delegation from one of China\u2019s largest industrial areas discussed potential investment in the Sokhna Industrial Zone and support for ongoing Chinese projects with representatives from the Suez Canal Economic Zone (SCZone) yesterday, according to a SCZone statement. The two sides are coordinating to put in place incentives [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582476,"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":[101,975,6531,93,72,134,2359,7111,125,7128,3388,613,6702,7103,615,10576,10577,452,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-development-finance","tag-egypt-china-relations","tag-egypt-jordan-relations","tag-energy","tag-enterpriseam","tag-ever-given","tag-gv-developments","tag-infrastructure","tag-investment-watch","tag-ma-watch","tag-nassef-sawiris","tag-qalaa-holdings","tag-sczone","tag-suez-canal","tag-taqa-arabia","tag-tarboul-industrial-city","tag-v-sports","tag-waste-management","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"0ae313c4-4914-4922-80de-7c0b5d344d4a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/Chinese-CNY-1600.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582457],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.4697992b-c202-4810-9d4b-86b0c1d21064.mp3"},"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>Chinese investors are looking at the Sokhna Industrial Zone. PLUS: Jordan electricity link, another Sawiris football acquisition, and more - 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\/2023\/03\/06\/chinese-investors-are-looking-at-the-sokhna-industrial-zone-plus-jordan-electricity-link-another-sawiris-football-acquisition-and-more\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese investors are looking at the Sokhna Industrial Zone. 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