{"id":611060,"date":"2023-11-30T00:00:00","date_gmt":"2023-11-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/30\/this-evening-sczone-inks-agreement-with-chinas-befar-group-for-a-usd-2-bn-green-chemical-complex-cabinet-signs-off-on-solar-projects\/"},"modified":"2023-11-30T00:00:00","modified_gmt":"2023-11-30T00:00:00","slug":"this-evening-sczone-inks-agreement-with-chinas-befar-group-for-a-usd-2-bn-green-chemical-complex-cabinet-signs-off-on-solar-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/30\/this-evening-sczone-inks-agreement-with-chinas-befar-group-for-a-usd-2-bn-green-chemical-complex-cabinet-signs-off-on-solar-projects\/","title":{"rendered":"THIS EVENING: SCZone inks agreement with China\u2019s Befar group for a USD 2 bn green chemical complex + Cabinet signs off on solar projects"},"content":{"rendered":"

Good afternoon friends, and HAPPY THURSDAY. <\/strong>We have some exciting news from our SCZone along with more renewable energy news as we welcome COP28. <\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

A new USD 2 bn green complex in SCZone:<\/strong> The Suez Canal Economic Zone (SCZone) has signed a letter of intent today with China\u2019s Befar Group<\/a> to establish a green chemical complex in East Port Said, according to an SCZone statement<\/a>. The USD 2 bn complex will be powered by renewable energy, with the first phase to cost USD 500 mn.<\/p>\n

ALSO- Cabinet green lights two solar projects:<\/strong> The Madbouly Cabinet signed off on a contract for Norway\u2019s Scatec to set up a 1 GW solar power plant with battery energy storage system, according to a statement<\/a>. The ministers also agreed to allow China\u2019s State Grid to begin feasibility studies on a 10 GW solar project.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

It\u2019s a mixed bag in the international press today. <\/strong>The recent talks between Israel and Hamas, brokered by Egypt and Qatar culminated in a last minute agreement for a one-day extension of the temporary ceasefire after Hamas sent in a list of hostages to be released today, reports Reuters<\/a>. <\/p>\n

IN THE BUSINESS PRESS-<\/strong> The Eurozone\u2019s annual inflation sunk to 2.4% from last month\u2019s 2.9%, surprising the economists polled by Reuters. They had expected it to be at 2.7%. But it is good news, nonetheless, as it comes as a relief to customers hoping interest rates will soon be cut. (CNBC<\/a> | Financial Times<\/a>)<\/p>\n

Finally, the polarizing Henry Kissinger <\/strong>passing away at age 100<\/a><\/strong> is still making headlines (Washington Post<\/a> | Associated Press<\/a>). <\/p>\n

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