{"id":590900,"date":"2023-07-27T00:00:00","date_gmt":"2023-07-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/27\/singapore-chemicals-firm-eyes-egypt-plus-egyptalum-valu-and-a-usaid-backed-entrepreneurship-initiative\/"},"modified":"2023-07-27T00:00:00","modified_gmt":"2023-07-27T00:00:00","slug":"singapore-chemicals-firm-eyes-egypt-plus-egyptalum-valu-and-a-usaid-backed-entrepreneurship-initiative","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/27\/singapore-chemicals-firm-eyes-egypt-plus-egyptalum-valu-and-a-usaid-backed-entrepreneurship-initiative\/","title":{"rendered":"Singapore chemicals firm eyes Egypt. PLUS: EgyptAlum, valU and a USAID-backed entrepreneurship initiative"},"content":{"rendered":"

INVESTMENT-<\/strong><\/p>\n

Singapore chemicals outfit could invest in Egypt:<\/strong>Singapore-based chemical company Indorama<\/a> has laid the groundwork for expanding its presence in Egypt after signing an MoU with the Sovereign Fund of Egypt (SFE), according to a cabinet statement<\/a> yesterday. The firm is interested in exploring options in several sectors including fertilizer production, phosphate extraction, renewable energy and medical fibers, cabinet said. <\/p>\n

Indorama\u2019s owner already has operating assets in Egypt:<\/strong> Thailand-based sister company Indorama Ventures owns half of a plastic factory<\/a> situated in the Ain Sokhna freezone that produces 540k metric tons<\/a> of polyester a year. <\/p>\n

Remember:<\/strong> There are currently three projects under consideration<\/a> to set up fertilizer and phosphoric acid production facilities in Egypt\u2019s so-called \u2018Golden Triangle\u2019, an area in the Eastern Desert that is rich in phosphates. <\/p>\n

ENERGY-<\/strong><\/p>\n

EgyptAlum could be going greener: <\/strong>Orascom Construction and French electricity and renewables company Engie<\/a> are in talks with the government to install solar power plants at two of Egypt Aluminium\u2019s (EgyptAlum) production facilities, the Public Enterprises Ministry said<\/a> yesterday. The plants would produce renewable power for the state-owned, EGX-listed company\u2019s aluminum complex in Nagaa Hammadi and an upcoming aluminum plant in Safaga, according to the statement. The ministry didn\u2019t disclose the size of the proposed plants, the value of the projects, or how much of EgyptAlum\u2019s energy needs the plants would cover. <\/p>\n

EDUCATION-<\/strong><\/p>\n

#1- 10 Egyptian universities are getting business centers with the help of US funding:<\/strong> Our friends at USAID are joining the Arab League and the Arab Academy for Science, Technology, and Maritime Transport to establish and upgrade entrepreneurship centers at 10 universities, the US embassy said yesterday<\/a>. The centers \u201cwill provide student entrepreneurs with resources, mentoring, guidance, and training to help them generate new business ideas and grow their businesses,\u201d according to the statement. <\/p>\n

#2- valU to finance tuition fees at ElSewedy\u2019s tech uni:<\/strong> Students planning to attend the soon-to-be-opened ElSewedy University of Technology (SUT)<\/a> will be able to pay for tuition fees using installment plans provided by valU, the consumer finance firm said<\/a> (pdf)<\/a> yesterday. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company signed an MoU with the Sovereign Fund of Egypt yesterday<\/p>\n","protected":false},"author":1,"featured_media":590901,"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":[111,514,73,6552,8386,93,72,183,595,151,501],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-590900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-consumer-finance","tag-education","tag-egypt-us-relations","tag-egyptalum","tag-energy","tag-enterpriseam","tag-fintech","tag-non-banking-financial-services","tag-renewables","tag-usaid","wpautop","entry"],"acf":{"mongo_id":"8a9a8af6-8b4b-404f-96b0-01e4c6101411","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/1123.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Singaporean chemicals firm Indorama to explore investing in Egypt. 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PLUS news from BP, Orascom Construction, aiBank, Glamera, and Waterway Developments.","author":"enterpriseam admin","date":"30 August 2023","format":false,"excerpt":"PLUS: BP to drill four exploratory gas wells in the Mediterranean before the end of the year","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/1424.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590855,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/26\/this-evening-singapores-indorama-has-its-eyes-on-investing-in-egypt\/","url_meta":{"origin":590900,"position":1},"title":"THIS EVENING: Singapore\u2019s Indorama has its eyes on investing in Egypt","author":"enterpriseam admin","date":"26 July 2023","format":false,"excerpt":"Happy almost-THURSDAY, wonderful people. It may have been an abridged workweek, but we\u2019re very much looking forward to the upcoming weekend (Sahel exodus notwithstanding). THE BIG STORY TODAY Singapore-based chemical company Indorama is looking at potential investments in Egypt, including in mining, industry, fertilizers, phosphate extraction, renewable energy, and medical\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584227,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/28\/global-carbon-council-to-list-carbon-credits-on-egx-plus-usaid-funding-for-tech-schools-azimut-app\/","url_meta":{"origin":590900,"position":2},"title":"Global Carbon Council to list carbon credits on EGX. PLUS: USAID funding for tech schools, Azimut app","author":"enterpriseam admin","date":"28 March 2023","format":false,"excerpt":"The EGX is gearing up to launch a voluntary carbon-trading platform","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/518.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548772,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/22\/saudi-wealth-fund-is-sizing-up-egyptalum-and-potentially-egyptian-media-production-city-united-bank\/","url_meta":{"origin":590900,"position":3},"title":"Saudi wealth fund is sizing up EgyptAlum \u2014 and potentially Egyptian Media Production City + United Bank","author":"enterpriseam admin","date":"22 August 2022","format":false,"excerpt":"Saudi Arabia\u2019s sovereign wealth fund is making headlines in Cairo with at least three possible high-profile acquisitions now appearing to be in its pipeline, including an aluminum maker, a bank and Egyptian Media Production City. The fund has not confirmed any of the three potential transactions.A stake in EgyptAlum? The\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/343.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549236,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/gulf-wealth-funds-look-set-to-buy-into-egyptalum\/","url_meta":{"origin":590900,"position":4},"title":"Gulf wealth funds look set to buy into Egyptalum","author":"enterpriseam admin","date":"8 September 2022","format":false,"excerpt":"Gulf sovereign funds look set to invest USD 200 mn in Egyptalum\u2019s overhaul: EGX-listed Egypt Aluminum (Egyptalum) will fund two-thirds of its USD 300 mn overhaul by offering fresh stakes through a capital increase, the company said in a regulatory filing (pdf). The disclosure doesn\u2019t name the investors buying in,\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548858,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/24\/four-global-firms-in-the-running-to-build-anchorages-usd-2-bn-petchem-complex\/","url_meta":{"origin":590900,"position":5},"title":"Four global firms in the running to build Anchorage\u2019s USD 2 bn petchem complex","author":"enterpriseam admin","date":"24 August 2022","format":false,"excerpt":"Anchorage Investments has shortlisted four international firms to build its USD 2 bn petrochemical complex in the Suez Canal Economic Zone (SCZone), according to a company statement (pdf). Hyundai Engineering and Construction, Samsung Engineering, Technip Energies, and Technicas Reunidas made the final round of the tender launched in mid-March for\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/590900","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=590900"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/590900\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/590883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/590901"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=590900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=590900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=590900"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=590900"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=590900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}