{"id":628779,"date":"2018-05-14T04:10:12","date_gmt":"2018-05-14T04:10:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/14\/qalaa-plans-to-list-multiple-subsidiaries-beginning-2h2019-erc-to-start-trial-operations-by-november\/"},"modified":"2018-05-14T04:10:12","modified_gmt":"2018-05-14T04:10:12","slug":"qalaa-plans-to-list-multiple-subsidiaries-beginning-2h2019-erc-to-start-trial-operations-by-november","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/14\/qalaa-plans-to-list-multiple-subsidiaries-beginning-2h2019-erc-to-start-trial-operations-by-november\/","title":{"rendered":"Qalaa plans to list multiple subsidiaries beginning 2H2019, ERC to start trial operations by November"},"content":{"rendered":"

<\/a> IPO WATCH- Qalaa plans to list some of its subsidiaries on the EGX beginning 2H2019:<\/strong> Qalaa Holdings is planning to list multiple subsidiaries on the EGX while retaining stakes in them, our friend Ahmed Heikal tells Al Shorouk<\/a>. The Qalaa founder and chairman said he expects to begin listing these companies as of 2H2019, noting that all of Qalaa\u2019s subsidiaries are \u201cexpanding significantly,\u201d which supports the company\u2019s optimistic mid-term outlook for its business. Heikal admitted that Qalaa has become \u201cdifficult for many investors to understand,\u201d adding that the listing of subsidiaries should make the underlying investment thesis clearer.<\/p>\n

Qalaa\u2019s USD 4.3 bn Egyptian Refining Company in Mostorod should start trial operations by November 2018<\/strong> and is currently around 97% complete, according to Heikal. Trial operations will span six months. Once the facility is up and running, it will produce 4.7 mn tonnes of petroleum products and derivatives, which will plug 14% of Egypt\u2019s overall supply needs. The project\u2019s cost has risen from an initial estimate of USD 3.7 bn on the back of a 22-month delay due to financing issues. Qalaa had announced in March<\/a> that ERC took on new finance and equity commitments. Rising oil prices will help make ERC more profitable than originally expected<\/strong>, as will new demand for the low-sulphur diesel ERC will produce: Global environmental regulations bar ships\u2019 use of high-sulfur diesel.<\/p>\n

More investments in the pipeline:<\/strong> Once the Mostorod facility is up and running, Qalaa plans to invest at least EGP 500 mn in waste recycling projects over the next two years. Qalaa will also invest EGP 4 bn over the next four years to expand operations at three of its factories in Sadat City. The company is also looking into expanding its business with projects in several other sectors, including the construction of an Alexandria-Damietta railway line that is currently under study, Heikal said.<\/p>\n

Heikal sees Qalaa becoming one of Africa\u2019s 10 biggest companies within five years<\/strong>, by which time the company is expected to have EGP 80-100 bn worth of annual business.<\/p>\n","protected":false},"excerpt":{"rendered":"

IPO WATCH- Qalaa plans to list some of its subsidiaries on the EGX beginning 2H2019: Qalaa Holdings is planning to list multiple subsidiaries on the EGX while retaining stakes in them, our friend Ahmed Heikal tells Al Shorouk. The Qalaa founder and chairman said he expects to begin listing these companies as of 2H2019, noting […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628779","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"64eceef9-5f7e-4e75-9866-05f4ab21b38b","order":"0","is_powered_by":true,"section_story_id":"8a9e4de0-d1f1-4688-b6db-69a9c70d6e39","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628771],"teaser":"","voice_url":""},"yoast_head":"\nQalaa plans to list multiple subsidiaries beginning 2H2019, ERC to start trial operations by November - 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\/2018\/05\/14\/qalaa-plans-to-list-multiple-subsidiaries-beginning-2h2019-erc-to-start-trial-operations-by-november\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qalaa plans to list multiple subsidiaries beginning 2H2019, ERC to start trial operations by November\" \/>\n<meta property=\"og:description\" content=\"IPO WATCH- Qalaa plans to list some of its subsidiaries on the EGX beginning 2H2019: Qalaa Holdings is planning to list multiple subsidiaries on the EGX while retaining stakes in them, our friend Ahmed Heikal tells Al Shorouk. 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