{"id":609046,"date":"2023-10-30T00:00:00","date_gmt":"2023-10-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/30\/nspo-to-spin-out-new-a1-brand-of-filling-stations-plus-news-from-ekh-accor-new-alamein-and-more\/"},"modified":"2023-10-30T00:00:00","modified_gmt":"2023-10-30T00:00:00","slug":"nspo-to-spin-out-new-a1-brand-of-filling-stations-plus-news-from-ekh-accor-new-alamein-and-more","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/30\/nspo-to-spin-out-new-a1-brand-of-filling-stations-plus-news-from-ekh-accor-new-alamein-and-more\/","title":{"rendered":"NSPO to spin out new A1 brand of filling stations. PLUS: News from EKH, Accor, New Alamein, and more"},"content":{"rendered":"

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

Military to launch new fuel retailer this year: <\/strong>The military\u2019s National Service Projects Organization (NSPO) will launch a new line of filling stations under the brand A1 before the end of the year, Asharq Business said in a post on X<\/a> (formerly known as Twitter). This comes as the Madbouly government looks for a buyer for a stake in NSPO\u2019s Wataniya chain of gas stations.<\/p>\n

More than half of Wataniya\u2019s assets won\u2019t be up for sale:<\/strong> The government said in August<\/a> that it had spun off 174 of Wataniya\u2019s 300 stations into a separate entity. <\/p>\n

NSPO could still end up holding some of Wataniya via Taqa Arabia:<\/strong> The NSPO recently acquired a 20% stake in<\/a>Taqa Arabia<\/a>, which has submitted a non-binding offer to acquire a stake in Wataniya. The NSPO also owns the Chill Out fuel retailer via its National Company for Roads subsidiary.<\/p>\n

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

Accor plans Egypt expansion: <\/strong>French hospitality group Accor plans to open seven new hotels in Egypt by 2027, adding 1.4k rooms to its portfolio, Chief Development Officer Maya Ziadeh told Asharq Business<\/a>. Accor wants to expand into the new capital, the North Coast, New Assiut, New Alamein, and New Mansoura through its hotel brands Swissotel<\/a> and Novotel<\/a>, both of which are already present in the market. <\/p>\n

Accor in Egypt: <\/strong>The company currently operates 28 hotels<\/a> in Egypt across a number of governorates including Marsa Alam, El Gouna, Aswan, and Sharm El Sheikh. <\/p>\n

REAL ESTATE-<\/strong><\/p>\n

Chinese construction giant to build more of New Alamein: <\/strong>China State Construction Engineering Corporation (CSCEC) has been contracted to design and construct the Crystal Lagoon project in downtown New Alamein, the Housing Ministry said<\/a> yesterday. The lagoon will contain seven islands and will be surrounded by a tourist promenade, the statement said, without disclosing the contract\u2019s value or the expected timeline for the project. CSCEC is already constructing five residential skyscrapers as part of the Alamein Downtown Towers project<\/a>.<\/p>\n

M&A-<\/strong><\/p>\n

EKH to increase its stake in BKH:<\/strong> Egypt Kuwait Holding (EKH) will increase its ownership of subsidiary Bawabet Al Kuwait Holding Company<\/a> (BKH) \u2014 majority shareholder of Alexandria Fertilizers (AlexFert) \u2014 to 94.34% after purchasing a 9.45% stake from an undisclosed Kuwaiti company for KWD 14.65 mn (USD 47.5 mn), according to an EGX disclosure (pdf)<\/a>. The move will raise EKH\u2019s direct and indirect stake in AlexFert to 75.13% from 69.48%. BKH is an investment company focused on the fertilizer and petrochemical sectors.<\/p>\n

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

A German industrial zone in the SCZone? <\/strong>Egypt and Germany kicked off discussions about setting up a German industrial zone in the Suez Canal Economic Zone (SCZone) during a meeting last week, the Trade Ministry said in a<\/a>stateme<\/a>nt<\/a>. The two sides also inked a cooperation protocol to enhance partnership in the fields of trade, investment, energy, SMEs, and climate. <\/p>\n

Egypt has been expanding heavily on the industrial zone front. <\/strong>We dive into the ins and outs of the country\u2019s industrial zone expansion in last week\u2019s Inside Industry<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Samsung, GASCO, EgyptSat Auto, and Fayoum Company for Storage all receive golden licenses<\/p>\n","protected":false},"author":1,"featured_media":609047,"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":[9127,6798,111,5094,1668,975,93,72,955,131,7310,83,416,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-609046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-accor","tag-alexandria-fertilizers","tag-also-on-our-radar","tag-china-state-construction-engineering-company","tag-egypt-kuwait-holding","tag-egypt-china-relations","tag-energy","tag-enterpriseam","tag-hospitality","tag-manufacturing","tag-national-service-projects-organization","tag-real-estate","tag-suez-canal-economic-zone","tag-wataniya-petroleum","wpautop","entry"],"acf":{"mongo_id":"c56b1ef7-a0a4-4361-b790-0b4a0b294ddc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1415.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s NSPO to spin out new A1 brand of filling stations. 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