{"id":653835,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/"},"modified":"2024-10-23T00:00:00","modified_gmt":"2024-10-23T00:00:00","slug":"khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/khalda-petroleum-has-a-usd-70-mn-diesel-project-brewing-plus-news-from-amea-power-hhd-delta-sugar\/","title":{"rendered":"Khalda Petroleum has a USD 70 mn diesel project brewing. PLUS: News from AMEA Power, HHD, Delta Sugar,"},"content":{"rendered":"

ENERGY-<\/p>\n

Khalda Petroleum to invest USD 70 mn in new diesel project:<\/strong> Khalda Petroleum \u2014 a JV between US oil producer Apache and EGPC \u2014 will allocate USD 70 mn of its planned USD 1.3 bn in investments<\/a> earmarked for the current fiscal year to launch a new diesel production project, chairman Saeed Abdel Moneim told Al Borsa<\/a>. The investment comes as part of a broader plan to boost production by 5% to 145k barrels per day. <\/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

\n

RENEWABLES-<\/p>\n

Some 500 MW of renewables started feeding the national grid <\/strong>after UAE\u2019s AMEA Power wrapped up construction of its 500 MW Abydos solar plant<\/a> in Kom Ombo and linked it to the national grid after months of operational testing, Al Mal<\/a> reports. The Egyptian Electricity Transmission Company will purchase the energy generated by the solar plant for 25 years<\/a> as per a previously-inked offtake agreement.<\/p>\n

Remember:<\/strong> AMEA Power is investing USD 800 mn<\/a> to develop and expand solar and battery energy storage projects in Upper Egypt \u2014 adding a 300 MWh storage system to the Abydos solar plant and setting up a 1 GW solar facility with a 600 MWh battery storage system in Benban. The company is also working on a 500 MW wind farm in Ras Ghareb dubbed Amunet, which is scheduled to come online in 3Q 2025.<\/p>\n

\n

AVIATION-<\/p>\n

Borg El Arab and El Alamein airports are getting a capacity boost come <\/strong>November:<\/strong> Developments to the Borg El Arab and El Alamein International airports are set to be completed by early November, Civil Aviation Minister Sameh Elhefny said<\/a>. Borg El Arab International Airport will have the capacity to welcome 6 mn passengers a year when the government and the Japan International Cooperation Agency (JICA) set up Terminal 2 \u2014 the country\u2019s first eco-friendly passenger terminal. Meanwhile, work on the El Alamein International Airport is set to push its annual capacity to 1 mn passengers.<\/p>\n

DIG DEEPER- <\/strong>The government has been expanding the country\u2019s airports and adding new ones, offering flight incentives, and even working towards getting private players to run the nation\u2019s airports as part of efforts to overhaul Egypt\u2019s aviation sector, in a bid to boost tourism inflows and turn the country into a cargo and transit hub. We dive into the details in a Hardhat<\/a> published earlier this year.<\/p>\n

\n

LEGISLATION-<\/p>\n

MPs approve EUR 11 mn in grants from the EU:<\/strong> The House of Representatives approved two grants worth a total of EUR 11 mn from the EU \u2014 EUR 8 mn will go towards fighting child labor and help provide children with access to protective services related to education, healthcare, nutrition, housing, and others and another EUR 3 mn will go towards funding the production of vaccines and drugs.<\/p>\n

ALSO APPROVED- <\/strong>MPs gave final approval to a draft bill establishing the National Council for<\/a>Education, Research, and Innovation<\/a>, which will outline and develop education policies.<\/p>\n

\n

REAL ESTATE-<\/p>\n

HHD board greenlights EGP 2.2 bn land purchase in Mansoura:<\/strong> The board of Heliopolis Housing and Development (HHD) approved the purchase of a 52k sqm plot in Mansoura from the Holding Company for Spinning and Weaving for EGP 2.2 bn, the company said in an EGX disclosure (pdf)<\/a>. <\/p>\n

Remember:<\/strong> HHD and the Holding Company for Spinning and Weaving in January<\/a> inked a cooperation agreement that saw HHD make an EGP 2 bn down payment on a plot to use for a real estate project.<\/p>\n

\n

M&A-<\/p>\n

Premium Healthcare\u2019s acquisition spree continues:<\/strong> Premium Healthcare \u2014 formerly<\/a>City Labs<\/a> \u2014 has finalized the acquisition of local lab operator Hassab Labs<\/a> for EGP 298 mn, with EGP 14 mn already paid and the remainder to follow after a capital increase, it said in an EGX disclosure (pdf)<\/a>. The medical group\u2019s board also greenlit the acquisition<\/a> of 50% of Saudi Arabia\u2019s Distinguished Diagnostics for SAR 14.8 mn (EGP 195 mn). <\/p>\n

Part of a bigger plan: <\/strong>The medical diagnostics company has plans to expand<\/a> its network of labs to 216 across Egypt, Saudi Arabia, and Jordan next year.<\/p>\n

\n

COMMODITIES- <\/p>\n

Supply Ministry opens the door for fertilized egg imports in efforts to control rising <\/strong>prices:<\/strong> The Agriculture Ministry has given ten firms operating in the poultry sector the greenlight to import fertilized eggs for broiler and layer chicks in addition to table eggs, Al Borsa<\/a> reports, citing ministry official Tarek Soliman. The measure aims to combat recent increases in local poultry and chick prices, and will remain in place until prices stabilize, Soliman added.<\/p>\n

\n

PHARMA-<\/p>\n

Locally-made polio vaccines:<\/strong> State-owned vaccine maker Vacsera<\/a> has inked a cooperation agreement with Dutch pharma firm Bilthoven Biologicals<\/a> to locally produce injectable polio vaccines, according to a Health Ministry statement<\/a>. <\/p>\n

\n

DEBT-<\/p>\n

Fresh funds for Madkour expansion:<\/strong> Madkour Group<\/a> has secured a EGP 1.2 bn facility from Suez Canal Bank, the company said in a LinkedIn post<\/a>. The funds will go toward developing the company\u2019s current and future projects domestically and abroad.<\/p>\n

ICYMI: <\/strong>Madkour last month inked a EGP 400 mn leasing and factoring agreement<\/a> with Beltone Holding subsidiary Beltone Leasing and Factoring, with the proceeds earmarked to \u201cpursue new growth plans in various markets.\u201d<\/p>\n

\n

EARNINGS-<\/p>\n

Delta Sugar saw its net income dip<\/strong> 17.8%<\/strong> y-o-y to EGP 1.2 bn during the first nine <\/strong>months of 2024<\/strong>, the company said in an EGX disclosure (pdf)<\/a>. The company attributed the drop to higher production input costs, a drop in sales, and increased interest on credit facilities. Meanwhile, the sugar maker\u2019s revenues declined 58.3% y-o-y during the nine-month period to record EGP 2.3 bn. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company wants to boost production by 5%<\/p>\n","protected":false},"author":1,"featured_media":653836,"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":[111,528,2198,302,93,72,7192,180,91,427,83,151,477],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-aviation","tag-delta-sugar","tag-earnings","tag-energy","tag-enterpriseam","tag-eu","tag-legislation","tag-oil-and-gas","tag-pharma","tag-real-estate","tag-renewables","tag-vacsera","wpautop","entry"],"acf":{"mongo_id":"399add70-be7a-4dd4-b41f-4802af3be0c6","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1955.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Khalda Petroleum has a USD 70 mn diesel project brewing","related_issue":[653814],"teaser":"The company wants to boost production by 5%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.851f4dac-c8a4-49f0-8ede-5e38f540f12d.mp3"},"yoast_head":"\nKhalda Petroleum has a USD 70 mn diesel project brewing. 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Company production is expected to surpass 151,000 bbl\/d of crude, condensates, and butane, and 800 mcf\/d of gas. Khalda will also conduct 3D seismic surveys in\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":671608,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/10\/eni-bp-to-drill-exploratory-gas-well-with-usd-70-mn-in-investments-this-year\/","url_meta":{"origin":653835,"position":1},"title":"Eni, BP to drill exploratory gas well with USD 70 mn in investments this year","author":"enterpriseam admin","date":"10 September 2025","format":false,"excerpt":"PLUS- Khalda Petroleum kicked off gas production at the new NUT-1 well in its Western Desert concession","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2095.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":642551,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/16\/apache-subsidiaries-pump-out-120-mn-barrels-of-oil\/","url_meta":{"origin":653835,"position":2},"title":"Apache subsidiaries pump out 120 mn barrels of oil","author":"enterpriseam admin","date":"16 August 2017","format":false,"excerpt":"Apache and EGPC JVs Khalda and Qarun Petroleum Companies together pumped out 120 mn barrels of oil in the last fiscal year, according to Al Shorouk. 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