{"id":619397,"date":"2024-05-01T00:00:00","date_gmt":"2024-05-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/us-international-development-finance-corporation-mulls-financing-actis-gabal-el-zeit-acquisition-plus-saudi-smes-to-expand-in-egypt-the-hub-plan-new-frozen-food-factory-uaes-hori\/"},"modified":"2024-05-01T00:00:00","modified_gmt":"2024-05-01T00:00:00","slug":"us-international-development-finance-corporation-mulls-financing-actis-gabal-el-zeit-acquisition-plus-saudi-smes-to-expand-in-egypt-the-hub-plan-new-frozen-food-factory-uaes-hori","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/us-international-development-finance-corporation-mulls-financing-actis-gabal-el-zeit-acquisition-plus-saudi-smes-to-expand-in-egypt-the-hub-plan-new-frozen-food-factory-uaes-hori\/","title":{"rendered":"US International Development Finance Corporation mulls financing Actis\u2019 Gabal El Zeit acquisition. PLUS: Saudi SMEs to expand in Egypt, The HUB plan new frozen food factory, UAE\u2019s Horizon Egypt eyes North Coast project"},"content":{"rendered":"<p class=\"tag-border-left\">RENEWABLES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- DFC to fund Actis\u2019 Gabal El Zeit acquisition? <\/strong>The US government\u2019s <a target=\"_blank\" href=\"https:\/\/www.dfc.gov\/\" style=\"\" rel=\"noopener\">US International Development<\/a><a target=\"_blank\" href=\"https:\/\/www.dfc.gov\/\" style=\"\" rel=\"noopener\">Finance Corporation<\/a> (DFC) is considering financing UK-based private equity giant Actis\u2019 planned acquisition of the Gabal El Zeit wind farm, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/29\/1787564\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing DFC data. This comes only a few weeks after the European Bank for Reconstruction and Development said it was reviewing a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08459131-9189-45a7-9d75-b6e0e09eb72c\/%253cmark%253eebrd%253c%2Fmark%253e-reviewing-usd-140-mn-loan-to-finance%253cmark%253e-actis%25e2%2580%2599-%253c%2Fmark%253egabal%253cmark%253e-el%253c%2Fmark%253e%253cmark%253e-zeit%253c%2Fmark%253e%253cmark%253e-acquisition%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">proposed USD 140 mn loan<\/a> for Actis to finance its acquisition of the 580-MW wind farm.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember<\/strong><strong>:<\/strong> Actis reportedly <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d724eb5-69ad-4490-bab5-00a5b65d9a1f\/maersk,-actis-make-progress-on-zafarana,%253cmark%253e-gabal%253c%2Fmark%253e-el-zeit-wind-farms-acquisition-bids\" style=\"\" rel=\"noopener\">wrapped up due diligence<\/a> on the wind farm in February and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a4d40c7-270d-4f17-b677-f24738922550\/egypt-could-receive-another-usd-820-mn-tranche-in-june\" style=\"\" rel=\"noopener\">IMF thinks<\/a> stake sales of the Gabal El Zeit and Zafarana wind farms will be finalized before the end of June.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #2- <\/strong><strong>Egypt + Indonesia <\/strong><strong>talk green<\/strong><strong> energy: <\/strong>The Suez Canal Economic Zone welcomed a delegation from Indonesia\u2019s Trade Ministry to discuss potential cooperation in several areas including green energy, according to an SCZone <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zmG2khJ6WXSuTBPMXCBbjC2M7PiWMq8GKzDWZAR6q2Lox1tQgGXS2ysqMrQGNoJ7l\" style=\"\" rel=\"noopener\">statement<\/a>. The talks focused on the economic zone's capabilities, including its four industrial zones and six seaports, and Egypt's infrastructure development plan. The Indonesian delegation expressed interest in collaboration, especially in ports and green energy.<\/p>\n<p class=\"tag-border-left\">SMEs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>USD 25 mn extended to Banque du Caire to help Saudi SMEs export to Egypt: <\/strong>Banque du Caire will receive a line of financing worth USD 25 mn from the International Islamic Trade Finance Corporation and the Saudi Export-Import Bank to help Saudi SMEs expand their presence in Egypt and encourage non-oil exports to Egypt, according to a <a target=\"_blank\" href=\"https:\/\/www.itfc-idb.org\/news-events\/news\/itfc-and-saudi-exim-bank-extends-us$25-million-line-financing-to-banque-du-caire-%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B%E2%80%8B\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An EGP 150 mn frozen food factory:<\/strong> Local F&amp;B firm <a target=\"_blank\" href=\"https:\/\/thehub-eg.org\/about-us\/\" style=\"\" rel=\"noopener\">The HUB for Food Industries<\/a> is looking to set up a EGP 150 mn factory for frozen fruits and vegetables by 4Q 2024, the firm\u2019s chairman Mohamed Abdelsabour told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/04\/29\/1787519\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The factory will have an initial production capacity of 15k tons, all of which will be exported, Abdelsabour said. <\/p>\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE developer Horizon Egypt eyes the North Coast to set up tourism complex:<\/strong> Emirati real estate developer <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/horizon-egypt-developments\/?originalSubdomain=eg\" style=\"\" rel=\"noopener\">Horizon Egypt Developments<\/a> is reportedly looking to buy 180 acres land on the North Coast to build an integrated tourism complex, writes <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=30042024&amp;id=2183a5c8-b2e7-45bc-9f18-ebb6087e45fa\" style=\"\" rel=\"noopener\">Shorouk News<\/a>, citing sources it said are in the know. The sources added that there are other property developers looking to get the land to set up similar projects.<\/p>\n<p class=\"tag-border-left\">FOOD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>KSA\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/baazeem.com\/en\/aboutus\/\" style=\"\" rel=\"noopener\">Baazee<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/baazeem.com\/en\/aboutus\/\" style=\"\" rel=\"noopener\">m Trading<\/a><\/strong><strong> has signed a three-year exclusive distribution contract<\/strong><strong> with Egypt-based food manufacturer <\/strong><strong><a target=\"_blank\" href=\"https:\/\/eg.linkedin.com\/company\/kellogg-tolaram-noodles-egypt\" style=\"\" rel=\"noopener\">Kellogg Tolaram Noodles<\/a><\/strong> valued at SAR 20 mn per year, according to a <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/3zmnfmjc\" style=\"\" rel=\"noopener\">Tadawul disclosure<\/a>. Baazeem anticipates annual sales growth of SAR 20 mn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This comes only a few weeks after the European Bank for Reconstruction said it was reviewing a proposed loan for the same project<\/p>\n","protected":false},"author":1,"featured_media":619398,"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":[922,111,726,72,564,8309,1694,845,125,151,287,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-actis","tag-also-on-our-radar","tag-banque-du-caire","tag-enterpriseam","tag-food","tag-gabal-el-zeit-wind-farm","tag-indonesia","tag-international-islamic-trade-finance-corporation","tag-investment-watch","tag-renewables","tag-smes","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"849f94e8-8892-4ac3-81ef-a541f80e38fe","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1231.jpg","photo_position":"above","homepage_title":"","full_issue_title":"US International Development Finance Corporation mulls financing Actis\u2019 Gabal El Zeit acquisition. PLUS: Saudi SMEs to expand in Egypt, The HUB plan new frozen food factory, UAE\u2019s Horizon Egypt eyes North Coast project","related_issue":[619380],"teaser":"This comes only a few weeks after the European Bank for Reconstruction said it was reviewing a proposed loan for the same project","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.4d4c7866-71e9-480d-9c0e-4f6d27ba6e0c.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>US International Development Finance Corporation mulls financing Actis\u2019 Gabal El Zeit acquisition. PLUS: Saudi SMEs to expand in Egypt, The HUB plan new frozen food factory, UAE\u2019s Horizon Egypt eyes North Coast project - 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\/2024\/05\/01\/us-international-development-finance-corporation-mulls-financing-actis-gabal-el-zeit-acquisition-plus-saudi-smes-to-expand-in-egypt-the-hub-plan-new-frozen-food-factory-uaes-hori\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US International Development Finance Corporation mulls financing Actis\u2019 Gabal El Zeit acquisition. 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