{"id":633778,"date":"2024-07-21T00:00:00","date_gmt":"2024-07-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/21\/uaes-beeah-to-invest-usd-136-mn-in-egypt-plus-news-from-bp-lionsbridge-tourism-ministry\/"},"modified":"2024-07-21T00:00:00","modified_gmt":"2024-07-21T00:00:00","slug":"uaes-beeah-to-invest-usd-136-mn-in-egypt-plus-news-from-bp-lionsbridge-tourism-ministry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/21\/uaes-beeah-to-invest-usd-136-mn-in-egypt-plus-news-from-bp-lionsbridge-tourism-ministry\/","title":{"rendered":"UAE\u2019s Beeah to invest USD 136 mn in Egypt. PLUS: News from BP, Lionsbridge, Tourism Ministry"},"content":{"rendered":"<p class=\"tag-border-left\">WASTE MANAGEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Emirati sustainability firm Beeah plans to invest AED 500 mn (c. USD 136 mn) in <\/strong><strong>Egypt\u2019s waste management and sustainability<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02RbtvtFSyTzqqhiMxaYrsTmt4ma7eMkoqieJ3EGR2hVV5JFEJ3gYYqGY6r71rx2bnl\" style=\"\" rel=\"noopener\">statement<\/a>. The firm wants to build multilateral partnerships with local and foreign partners and work with investment funds to reduce risk. This came during a meeting between company representatives and Environment Minister Yasmine Fouad, during which they discussed potential investments available in the local market \u2014 medical waste management and agricultural waste recycling.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Beeah is no stranger to Egypt:<\/strong><span style=\"background-color: transparent;\"> The firm was <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98575a69-d468-418a-bec8-147d30a089ef\" rel=\"noopener\">tapped in December<\/a><span style=\"background-color: transparent;\"> to develop the solid waste management infrastructure in the new capital. The firm, together with the Administrative Capital for Urban Development, plans <\/span><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/baeeea7e-478e-4409-b072-764a98d2b902\/mashreq-global-network-is-expanding-outsourcing-operations-in-egypt.-plus:-news-from-efg-corp-solutions,-samcrete,-acud,-banque-misr\" rel=\"noopener\">to allocate up to EGP 1 bn<\/a><span style=\"background-color: transparent;\"> to the first phase of the project.<\/span><\/p>\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>Egypt's natural gas output dropped to <\/strong><strong>4.3 b<\/strong><strong>n cubic meters in May<\/strong>, its lowest level in over six years, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/1527.png\" style=\"\" rel=\"noopener\">data<\/a> from global energy data repository the <a target=\"_blank\" href=\"https:\/\/www.jodidata.org\/\" style=\"\" rel=\"noopener\">Joint Organisations Data Initiative<\/a> (JODI). The fall in output comes as daily electricity consumption has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8883e2e1-8006-4fd6-be3c-58d871338ead\/madbouly-addresses-power-cuts,-renewables-goals,-meds-crisis\" style=\"\" rel=\"noopener\">risen 12%<\/a> from 2023.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What this means: <\/strong>\u201cThe decline is a sign that Egypt will struggle to replicate the gas export boom it saw two years ago, and is likely to become more reliant on imports of liquefied natural gas,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-07-19\/egypt-s-gas-output-near-six-year-low-as-it-shifts-to-importer?embedded-checkout=true\" style=\"\" rel=\"noopener\">Bloomberg<\/a> writes. <\/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>BP to drill two new wells in its Raven gas field: <\/strong>Global energy giant BP plans to invest some USD 200 mn to drill two new wells at its Raven natural gas field at the North Alexandria concession, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid02DhaWjx8TQFG1Wtd131FQcjjoWEFzzg4k5fzgDDUmnwEEekA5jmQY6hwAJDKk1e2al\" style=\"\" rel=\"noopener\">statement<\/a> from the Oil Ministry. The new wells will allow the company to add some 200 mn cubic feet of gas and 8k barrels to its overall output by the third quarter of the fiscal 2024-205. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come: <\/strong>The company also plans to invest USD 120 mn to drill two wells in its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfe9a0b2-15c8-4422-a72b-c64c48f86b50\/%253cmark%253ebp-brings-giza-and-fayoum-gas-fields-online%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Giza and<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bfe9a0b2-15c8-4422-a72b-c64c48f86b50\/%253cmark%253ebp-brings-giza-and-fayoum-gas-fields-online%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Fayoum fields<\/a>.<\/p>\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>An update on Lionsbridge\u2019s phosphoric acid plant:<\/strong> Wesson Group\u2019s financial consultancy firm Lionsbridge is looking to set up a USD 3 bn phosphoric acid production factory in the Abu Tartour port, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02W4PwyxuWv1AA6WHaoHRYkJYfvbJdT5gYmjo9cmBswWFJoBUknV45xy5HVKGzzyWGl\" style=\"\" rel=\"noopener\">statement<\/a>. The project would be carried out in multiple phases \u2014 the first USD 395 mn phase will have a production capacity of 350k tons a year and the second phase will see its capacity doubled. Later phases of the project will see it expand its product range. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first we hear of this: <\/strong>The project first saw the light <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eb908682-39b5-469a-81b9-4174432a90fb\/%253cmark%253e%253c%2Fmark%253einvestors%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253epitch%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efor%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ethree%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253efertilizer%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ecomplexes%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eworth%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eusd%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e1%253cmark%253e%253c%2Fmark%253e.%253cmark%253e%253c%2Fmark%253e6%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ebn%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">last year<\/a> \u2014 back then it had a USD 875 mn price tag and was to be carried out by a consortium including Lionsbridge and electrical contractor Westech. <\/p>\n<p class=\"tag-border-left\">TOURISM-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Tourism Ministry <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02tXP8DzebHzKYAPrSD4PTUczihhu5yXYSgHoxJqiNmyMswGHp2idL6rkjQ1hHsjd4l\" style=\"\" rel=\"noopener\">launched<\/a><\/strong><strong> Tourism Alive 365<\/strong>, a two-month campaign promoting various tourist destinations throughout the country targeting Arab tourists.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm was tapped in December to develop the solid waste management infrastructure in the new capital<\/p>\n","protected":false},"author":1,"featured_media":633779,"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":[111,196,93,72,131,91,705,238,452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-633778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-bp","tag-energy","tag-enterpriseam","tag-manufacturing","tag-oil-and-gas","tag-petrochemicals","tag-tourism","tag-waste-management","wpautop","entry"],"acf":{"mongo_id":"8d4b1cf9-149f-4685-a4bc-5613d04fec2b","order":"9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1552.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Beeah to invest USD 136 mn in Egypt","related_issue":[633763],"teaser":"The firm was tapped in December to develop the solid waste management infrastructure in the new capital","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.7b94eecb-026f-49c9-a039-c67cd012c29e.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>UAE\u2019s Beeah to invest USD 136 mn in Egypt. 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(Asharq Business)ACUD LOOKS TO RESTRUCTURE\u2026","rel":"","context":"In \"ALSO ON OUR RADAR\"","block_context":{"text":"ALSO ON OUR RADAR","link":"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/580.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546315,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/11\/giz-egypt-to-support-waste-management-strategy-with-eur-6-mn-in-funding\/","url_meta":{"origin":633778,"position":2},"title":"GIZ Egypt to support waste management strategy with EUR 6 mn in funding","author":"enterpriseam admin","date":"11 May 2022","format":false,"excerpt":"Other things we\u2019re keeping an eye on this morning: Matouk Bassiouny & Hennawy acted as the Egyptian legal counsel to Kora Capital on its participation in Paymob\u2019s USD 50 mn series B round. 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