{"id":612877,"date":"2024-01-03T00:00:00","date_gmt":"2024-01-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/"},"modified":"2024-01-03T00:00:00","modified_gmt":"2024-01-03T00:00:00","slug":"eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/03\/eib-eu-extend-eur-165-mn-to-green-our-industrial-sector-plus-jinbeis-buys-brilliance-stake-gupco-data-centers-steel-price-rises-sugar-tenders\/","title":{"rendered":"EIB, EU extend EUR 165 mn to green our industrial sector. PLUS: Jinbei\u2019s buys Brilliance stake, GUPCO, data centers, steel price rises, sugar tenders"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEVELOPMENT FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EIB, EU extend EUR 165 mn to green our industrial sector:<\/strong> The European Investment Bank (EIB) is extending EUR 135 million in soft financing to the Environment Ministry, topped off with a EUR 30 mn grant from the EU, under agreements inked with the International Cooperation Ministry, a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2u87tmcm\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry said. The funds will help finance the Sustainable Green Industry project, which seeks to combat industrial pollution. The project \u2014 which will be managed by the Egyptian Environmental Affairs Agency (EEAA) and executed by the National Bank of Egypt (NBE) \u2014 will see the government dole out funds to private and public sector manufacturers to stimulate investment in initiatives that mitigate industrial pollution, according to the <a target=\"_blank\" href=\"https:\/\/sis.gov.eg\/Story\/190906\/Egypt-signs-%E2%82%AC135M-deal-with-EIB-for-sustainable-green-industry-project?lang=en-us\" style=\"\" rel=\"noopener\">State Information Services<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Local auto firm acquires stake in Br<\/strong><strong>illiance Auto:<\/strong> The country\u2019s sole agent for Jinbei products <a target=\"_blank\" href=\"https:\/\/jinbeiroyal-eg.com\/\" style=\"\" rel=\"noopener\">Jinbei Royal Egypt<\/a> has acquired the Bavarian Auto Group\u2019s (BAG) stake in <a target=\"_blank\" href=\"https:\/\/www.brilliance-eg.com\/\" style=\"\" rel=\"noopener\">Brilliance Bavarian Auto Company<\/a> \u2014 a JV between China\u2019s Brilliance vehicles and BAG \u2014 Jenbei\u2019s managing director Khaled Saad told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/01\/01\/1752034\" style=\"\" rel=\"noopener\">Al Borsa<\/a> earlier this week. Brilliance Auto is gearing up to bring Brilliance\u2019s V3 and V6 models to the Egyptian market by mid-February, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GUPCO\u2019s first oil well in North Safa field comes online: <\/strong>The <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/gupco\/\" style=\"\" rel=\"noopener\">Gulf of Suez Petroleum<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/gupco\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/gupco\/\" style=\"\" rel=\"noopener\">Company<\/a> (GUPCO) has started production from the first oil well in the North Safa field in the Gulf of Suez at 2.5k barrels per day (bpd), according to a <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/y4jp4258\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More data centers in the pipeline? <\/strong>Six local and international companies \u2014 includinglocal IT infrastructure firm Benya Group \u2014 have reportedly filed for licenses to set up data centers in Egypt with the National Telecom Regulatory Authority (NTRA), sources with knowledge of the matter told <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/hbner45e\" style=\"\" rel=\"noopener\">Al Mal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">COMMODITIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ezz Steel raised the price of local rebar<\/strong> by EGP 3.5k to EGP 42k per ton \u2014 inclusive of 14% VAT \u2014 a source at the company told Enterprise. Several steel producers have hiked prices to catch up with the rising raw material costs, leaving steel prices at anywhere between EGP 41.5k and EGP 43k a tonne, <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=02012024&id=013e768b-4794-4601-98cc-e12222b01cca\" style=\"\" rel=\"noopener\">Al Shorouk<\/a> reported.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GASC has launched a tender for 50k tons of raw sugar<\/strong> and \/ or 50k tons of refined white sugar on behalf of the Egyptian Sugar and Integrated Industries Company, for delivery between mid-Febraury and mid-March (<a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/markets\/commodities\/egypts-gasc-seeks-50-000-tonnes-of-sugar-in-tender-statement-o7nrfg7c\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRANSPORT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The second phase of the metro line 3<\/strong>has begun trial operations. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2p89wrs2\" style=\"\" rel=\"noopener\">Cairo Metro<\/a><a target=\"_blank\" href=\"http:\/\/tinyurl.com\/2p89wrs2\" style=\"\" rel=\"noopener\">statement<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Abu Qir train route<\/strong>will gradually start halting operations starting Friday as the ministry starts working on the Alexandria metro project. Authorities will soon announce alternative routes. (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/kpx777u9\" style=\"\" rel=\"noopener\">Transport Ministry statement<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funds will help the private and public sector combat industrial pollution<\/p>\n","protected":false},"author":1,"featured_media":612878,"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":[111,144,6070,214,317,7412,101,93,72,7192,760,550,8257,443,371,8258],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-612877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-automotive","tag-bavarian-auto-group","tag-cit","tag-commodities","tag-data-centers","tag-development-finance","tag-energy","tag-enterpriseam","tag-eu","tag-european-investment-bank","tag-gasc","tag-gupco","tag-international-cooperation-ministry","tag-oil-ministry","tag-sugar","wpautop","entry"],"acf":{"mongo_id":"e453381c-9906-47b3-98fe-d454aab17fb7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/180.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EIB, EU extend EUR 165 mn to green our industrial sector. PLUS: Jinbei\u2019s buys Brilliance stake, GUPCO, data centers, steel price rises, sugar tenders","related_issue":[612856],"teaser":"The funds will help the private and public sector combat industrial pollution","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.c3da36e0-acaf-47c6-a5e6-98618cb89f1b.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>EIB, EU extend EUR 165 mn to green our industrial sector. 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