{"id":623958,"date":"2024-06-13T00:00:00","date_gmt":"2024-06-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/"},"modified":"2024-06-13T00:00:00","modified_gmt":"2024-06-13T00:00:00","slug":"ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/","title":{"rendered":"EBRD mull funding Masdar-Infinity wind farm. PLUS: Simplex to open new factory, USAID + Banque Misr"},"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\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>EBRD <\/strong><strong>weigh backing Masdar-Infinity wind farm:<\/strong> The European Bank for Reconstruction and Development (EBRD) is mulling over extending a USD 71.7 mn senior loan to finance a 200 MW wind farm in Ras Ghareb developed and operated by the UAE\u2019s Masdar and Infinity Power, according to the lender\u2019s <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/53097.html\" style=\"\" rel=\"noopener\">project description<\/a>. The USD 214.8 mn project will sell electricity to the national grid under a long-term power purchase agreement.<\/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\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Simplex to open a new factory next year:<\/strong> Local industrial machinery manufacturer <a target=\"_blank\" href=\"https:\/\/www.simplexarabia.com\/en\/home\" style=\"\" rel=\"noopener\">Simplex<\/a> is planning to open its EGP 100 mn factory in Tenth of Ramadan City in May 2025, the company\u2019s CEO Ahmed Shaaban told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b3%d9%8a%d9%85%d8%a8%d9%84%d9%83%d8%b3-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%a7%d9%81%d8%aa%d8%aa%d8%a7%d8%ad-%d9%85%d8%b5%d9%86%d8%b9-%d8%a7%d9%84%d8%b9%d8%a7%d8%b4%d8%b1-%d9%85%d9%86\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The new factory will ramp up the company\u2019s production of CNC machines 150 units a month, up from its current volume of 40 units a month, Shaaban explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CNC machines?<\/strong> A CNC machine \u2014 short for computer numerical control machine \u2014 is a computer-controlled piece of machinery used in industry to cut and shape materials. CNC machines are good at dealing with complex and precise designs and repetitive tasks, making them an important tool in the manufacture of high-precision parts. <\/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\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An accelerator to boost exports:<\/strong> State-run lender Banque Misr inked a cooperation protocol with the USAID\u2019s Trade Reform and Development in Egypt (TRADE) program yesterday, to set up the Egypt Export Accelerator, in a bid to improve trade and ramp up investments, by backing local exporters, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/1209.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The accelerator is poised to improve Egyptian companies\u2019 competitiveness in foreign markets by helping them diversify their export products and facilitate access to financing and entry to international markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan is for over half of the overall estimated cost of EGP 12 bn<\/p>\n","protected":false},"author":1,"featured_media":623959,"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":[111,576,7106,571,72,334,4952,131,8648,151,8647,501,7081],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-623958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banque-misr","tag-debt","tag-ebrd","tag-enterpriseam","tag-infinity","tag-infinity-power","tag-manufacturing","tag-masdar","tag-renewables","tag-simplex","tag-usaid","tag-wind-power","wpautop","entry"],"acf":{"mongo_id":"284c8ae0-118a-4bbc-b1b9-9f46c1e50fba","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2539.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EBRD mull funding Masdar-Infinity wind farm. PLUS: Simplex to open new factory, USAID + Banque Misr","related_issue":[623938],"teaser":"The loan is for over half of the overall estimated cost of EGP 12 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.1ffba9c3-e1db-4e6d-8da6-b7d8224c5652.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>EBRD mull funding Masdar-Infinity wind farm. PLUS: Simplex to open new factory, USAID + Banque Misr - 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\/06\/13\/ebrd-mull-funding-masdar-infinity-wind-farm-plus-simplex-to-open-new-factory-usaid-banque-misr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EBRD mull funding Masdar-Infinity wind farm. 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The SCZone plant will be operational by 2026, they said in a statement (pdf). 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It\u2019s almost half of the country\u2019s current installed capacity, which at the end\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577202,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/masdar-infinity-hassan-allam-consortium-could-ink-agreements-on-10-gw-wind-farm-by-years-end\/","url_meta":{"origin":623958,"position":4},"title":"Masdar-Infinity-Hassan Allam consortium could ink agreements on 10-GW wind farm by year\u2019s end","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"Like the wind: Final contracts for the 10 GW Masdar-Infinity-Hassan Allam windfarm announced last week at COP27 could be signed before the end of the year, Hesham El Gamal, general manager at Infinity, told Bloomberg Asharq.The timeline: The consortium aims to complete studies and reach financial close within 18 months\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/214.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567248,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/ebrd-invests-usd-60-mn-in-egypts-infinity-energy\/","url_meta":{"origin":623958,"position":5},"title":"EBRD invests USD 60 mn in Egypt\u2019s Infinity Energy","author":"enterpriseam admin","date":"16 January 2020","format":false,"excerpt":"INVESTMENT WATCH- EBRD invests USD 60 mn in Egypt\u2019s Infinity Energy: The European Bank for Reconstruction and Development (EBRD) has become a shareholder in Infinity Energy after investing USD 60 mn equity in the energy company, according to an official statement. 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