{"id":653406,"date":"2024-10-16T00:00:00","date_gmt":"2024-10-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/16\/nra-to-launch-tender-for-the-management-of-bashteels-garage-plus-news-from-orascom-development-ebrd-b-tech\/"},"modified":"2024-10-16T00:00:00","modified_gmt":"2024-10-16T00:00:00","slug":"nra-to-launch-tender-for-the-management-of-bashteels-garage-plus-news-from-orascom-development-ebrd-b-tech","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/16\/nra-to-launch-tender-for-the-management-of-bashteels-garage-plus-news-from-orascom-development-ebrd-b-tech\/","title":{"rendered":"NRA to launch tender for the management of Bashteel\u2019s garage. PLUS: News from Orascom Development, EBRD, B.TECH"},"content":{"rendered":"

PRIVATIZATION-<\/p>\n

Operation of Bashteel Station\u2019s garage to soon be offered up to the private sector: <\/strong>The National Railway Authority\u2019s investment arm MOT for Investments is set to launch a tender next month inviting private sector bids to manage and operate the multi-story parking garage at the newly launched Bashteel railway station<\/a>, unnamed sources told Al Borsa<\/a>. The parking garage will hold around 1k cars across five levels, including a basement and ground floor, with 18 EV charging spots, and a rooftop solar panel system.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The details: <\/strong>The investor will be responsible for maintenance, cleaning, security, and utilities throughout the 10-15 year lease term, along with all applicable taxes, including any future VAT on the garage, according to the sources. <\/p>\n

\n

RENEWABLES-<\/p>\n

Egypt will supply and install a 276.5 kw solar plant in Djibouti<\/strong> under a bilateral agreement signed between the two sides, according to a statement<\/a>. The plant is part of efforts to support Djibouti\u2019s sustainable development plans, and will be implemented alongside training programs to transfer local expertise to Djibouti. <\/p>\n

\n

ENERGY-<\/p>\n

Foreign yachts to pay global rates for fuel:<\/strong> Foreign tourist yachts will be required to pay global market prices for fuel instead of the local subsidized rates, Asharq Business<\/a> reports, citing an official document. <\/p>\n

ICYMI: <\/strong>Yacht owners just got access to a raft of new incentives<\/a> as the government works to attract more yacht tourism.<\/p>\n

\n

LOGISTICS- <\/p>\n

Star Shine Shipping and Logistics will develop the first green logistics center <\/strong>in Alexandria\u2019s Margham Industrial Zone<\/a>, CEO Hossam El Deeb told Al Borsa<\/a>. The EGP 50 mn first phase of the project should be operational in December, while the second phase is still in the fiscal study phase. The center will offer integrated logistics services including storage, packaging, container maintenance, and refrigerated container services.<\/p>\n

DEBT-<\/p>\n

#1- Orascom Development has secured a USD 155 mn loan from the International <\/strong>Finance Corporation<\/strong> to refinance existing debt and fund growth opportunities, particularly in its hotels in El Gouna, according to an press release (pdf)<\/a>. The loan will also help fund capital expenditures and renovation of its Movenpick Resort and Spa in El Gouna and other hotels.<\/p>\n

The nitty gritty:<\/strong> The facility offers a grace period of 2.5 years and a tenure of 8.5 years, with semi-annual repayments starting late 2027.<\/p>\n

\n

\n

#2- EBRD to invest USD 100 mn in AAIB\u2019s sustainability bond program: <\/strong>The European Bank for Reconstruction and Development is set to invest some USD 100 mn in the Arab African International Bank\u2019s (AAIB) USD 499 mn five-year sustainability bond program, the ERBD said<\/a> in a project summary. The program marks the first sustainability bond ever issued in Egypt and will support<\/a> the expansion of green projects.<\/p>\n

\n

FINANCIAL SERVICES-<\/p>\n

B.TECH, Valu to offer more financing products:<\/strong> Consumer electronics retailer B.TECH to offer customers more financing options and exclusive offers under newly-inked cooperation protocol with homegrown fintech player Valu, according to a press release (pdf)<\/a>.<\/p>\n

\n

OUTSOURCING-<\/p>\n

Advansys completes first phase of UTEC's offshore delivery center:<\/strong> Intro Group\u2019s sustainable solutions arm Advansys<\/a> has finalized the initial phase of the Saudi-based energy solutions provider United Transformers Electric Company\u2019s (UTEC)<\/a> new offshore delivery center in Cairo, according to a press release (pdf)<\/a>. The center aims to provide offshore services to businesses across the Middle East and Africa that will boost operational efficiency, cost savings, and scalable growth.<\/p>\n

\n

FINANCIAL EDUCATION-<\/p>\n

Equiti Group and Sigma Capital have opened a new financial education center in <\/strong>New Cairo<\/strong>, offering workshops and expert-led sessions to boost financial literacy, according to a press release<\/a>. The facility is now up and offering programs without charge<\/a>.<\/p>\n

What they said: <\/strong>\u201cBy collaborating with SIGMA Capital, we're bringing global expertise to a market that is driving growth. This hub will empower Egyptians to achieve financial independence,\u201d said Equiti Group Cofounder Iskandar Najjar.<\/p>\n

\n

EXPANSION- <\/p>\n

Dubai-based <\/strong>Khazna Data Centers<\/a><\/strong> plans to expand further into the Middle East and Asia.<\/strong> It is closing in on the location for a USD 250 mn data center in Egypt (set for completion in 2026) and is in advanced stages of construction in Saudi Arabia, CEO Hassan Al Naqbi told The National<\/a>. Turkey and Southeast Asia are also on its radar.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investor will be responsible for maintenance, cleaning, security, and utilities throughout the 10-15 year lease<\/p>\n","protected":false},"author":1,"featured_media":653407,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[111,430,7106,571,8837,8836,257,72,503,759,145,8674,3163,7234,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-arab-african-international-bank","tag-debt","tag-ebrd","tag-egypt-djibouti-relations","tag-egyptian-railways-authority","tag-el-gouna","tag-enterpriseam","tag-financial-services","tag-international-finance-corporation","tag-logistics","tag-orascom-development","tag-sigma-capital","tag-solar-power","tag-valu","wpautop","entry"],"acf":{"mongo_id":"03c61675-0241-444d-8b82-bc5c49a8f524","order":"11","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1269.jpg","photo_position":"above","homepage_title":"","full_issue_title":"NRA to launch tender for the management of Bashteel\u2019s garage","related_issue":[653387],"teaser":"The investor will be responsible for maintenance, cleaning, security, and utilities throughout the 10-15 year lease","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.eb9c23c6-ff0c-4054-ac84-4a8f923a5b1e.mp3"},"yoast_head":"\nNRA to launch tender for the management of Bashteel\u2019s garage. 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The authority is expecting to launch a tender by no later\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":654965,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/11\/654965\/","url_meta":{"origin":653406,"position":1},"title":"2024NOVEMBER10-12 November (Sunday-Tuesday): Falak Startups\u2019\u2026","author":"enterpriseam admin","date":"11 November 2024","format":false,"excerpt":"2024NOVEMBER10-12 November (Sunday-Tuesday): Falak Startups\u2019 Fund Manager Masterclass, Cairo, Egypt.11-15 November (Tuesday-Friday): Arab African Investment and International Cooperation Summit, Aswan, Egypt.17 November (Sunday): The House of Representatives reconvenes.17-19 November (Sunday-Tuesday): Autotech Exhibition for Automotive Aftermarket & Feeder Industries, Cairo, Egypt. 21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee\u2026","rel":"","context":"In "CALENDAR"","block_context":{"text":"CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/calendar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":655047,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/12\/655047\/","url_meta":{"origin":653406,"position":2},"title":"2024NOVEMBER10-12 November (Sunday-Tuesday): Falak Startups\u2019\u2026","author":"enterpriseam admin","date":"12 November 2024","format":false,"excerpt":"2024NOVEMBER10-12 November (Sunday-Tuesday): Falak Startups\u2019 Fund Manager Masterclass, Cairo, Egypt.11-15 November (Tuesday-Friday): Arab African Investment and International Cooperation Summit, Aswan, Egypt.17 November (Sunday): The House of Representatives reconvenes.17-19 November (Sunday-Tuesday): Autotech Exhibition for Automotive Aftermarket & Feeder Industries, Cairo, Egypt. 21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee\u2026","rel":"","context":"In "CALENDAR"","block_context":{"text":"CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/calendar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":655126,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/13\/655126\/","url_meta":{"origin":653406,"position":3},"title":"2024NOVEMBER11-15 November (Monday-Friday): Arab African\u2026","author":"enterpriseam admin","date":"13 November 2024","format":false,"excerpt":"2024NOVEMBER11-15 November (Monday-Friday): Arab African Investment and International Cooperation Summit, Aswan, Egypt.17 November (Sunday): The House of Representatives reconvenes.17-19 November (Sunday-Tuesday): Autotech Exhibition for Automotive Aftermarket & Feeder Industries, Cairo, Egypt. 21 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.25-27 November (Monday-Wednesday): Annual Digital Nation Conference, Cairo, Egypt.26\u2026","rel":"","context":"In "CALENDAR"","block_context":{"text":"CALENDAR","link":"https:\/\/enterpriseam.com\/egypt\/category\/calendar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577658,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/30\/govt-reportedly-looking-to-tender-200-mw-worth-of-new-benban-solar-projects\/","url_meta":{"origin":653406,"position":4},"title":"Gov\u2019t reportedly looking to tender 200-MW worth of new Benban solar projects","author":"enterpriseam admin","date":"30 November 2022","format":false,"excerpt":"Among the other stories we\u2019re paying attention to this morning:ENERGY-A 200 MW solar tender in Benban? 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