{"id":658297,"date":"2025-01-09T00:00:00","date_gmt":"2025-01-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/09\/shalateen-to-relaunch-gold-tender-after-original-offers-fail-to-meet-required-criteria-plus-sidped-korra-energi-sidpec-petrochemicals-holding-company-draslovka-jaz-hotel-group\/"},"modified":"2025-01-09T00:00:00","modified_gmt":"2025-01-09T00:00:00","slug":"shalateen-to-relaunch-gold-tender-after-original-offers-fail-to-meet-required-criteria-plus-sidped-korra-energi-sidpec-petrochemicals-holding-company-draslovka-jaz-hotel-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/09\/shalateen-to-relaunch-gold-tender-after-original-offers-fail-to-meet-required-criteria-plus-sidped-korra-energi-sidpec-petrochemicals-holding-company-draslovka-jaz-hotel-group\/","title":{"rendered":"Shalateen to relaunch gold tender after original offers fail to meet required criteria. PLUS: Sidped + Korra Energi, Sidpec + Petrochemicals Holding Company + Draslovka,  Jaz Hotel Group"},"content":{"rendered":"<p class=\"tag-border-left\">MINING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Shalateen Mining Company will relaunch its gold exploration bid in the first half of <\/strong><strong>2025<\/strong> after the offers for its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04f83d9f-475c-4bc6-81fc-9d9b4062fc25\/all-eyes-on-rafah\" style=\"\" rel=\"noopener\">four-times extended tender<\/a> that came to a close in November did not meet the required criteria, an Egyptian Mineral Resources Authority (EMRA) official told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/01\/07\/1859441\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. According to the official, the requirements entail that the company should have at least ten years of experience in mining exploration and exploitation, a work team with over 100 cumulative years of experience in the field, and at least 10 mn ounces of existing gold reserves.<\/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>#1- Sidi Kerir Petrochemicals is planning build a<\/strong> <strong>14 MW hydrogen-fueled power plant with a<\/strong><strong> capacity of 14 MW<\/strong>, with the company currently in negotiations with local firm Korra Energi to build the facility with investments of USD 16 mn, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/01\/07\/-%D8%B3%D9%8A%D8%AF%D8%A8%D9%83-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D9%85%D8%AD%D8%B7%D8%A9-%D8%AA%D9%88%D9%84%D9%8A%D8%AF-%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A8%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%AE%D9%84%D8%A7%D9%84-2025\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing two unnamed sources. The new plant will utilize the hydrogen produced as a byproduct of Sidpec\u2019s existing operations, with implementation set to kick off by the end of 2025. <\/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>#2- Austria\u2019s Petrochemicals Holding Company and Czechia-based Draslovka will <\/strong><strong>develop a USD 160 mn sodium cyanide production plant <\/strong>within Sidi Kerir\u2019s factory complex in Alexandria under a special freezones system, an unnamed source told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/01\/07\/-%D8%B3%D9%8A%D8%AF%D8%A8%D9%83-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B1%D8%B3-%D8%AA%D9%86%D9%81%D9%8A%D8%B0-%D9%85%D8%AD%D8%B7%D8%A9-%D8%AA%D9%88%D9%84%D9%8A%D8%AF-%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D8%A8%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86-%D8%AE%D9%84%D8%A7%D9%84-2025\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The two companies inked a 25-year land lease agreement for the project \u2014 dubbed Draschem for Specialized Chemicals.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sidi Kerir wants in <\/strong>and is negotiating with the two companies that take up a 15% share of the project at a cost of up to USD 24 mn, according to the source.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sound smart:<\/strong> Sodium cyanide is the solution commonly used for gold extraction from low-grade ore, and can be used to extract other metals, including copper, zinc, and silver.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The news clears up some confusion we had<\/strong>, as we originally thought that the two European companies\u2019 project that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/930789eb-0a6b-4db4-8359-b574c476af59\/chinese-steel-factory-opens-in-sczone.-plus:-elaraby-and-taiwanese-company-to-build-ac-factory,-public-enterprise-ministry-mulls-mineral-extraction-project\" style=\"\" rel=\"noopener\">came to light in April<\/a> was a separate project from Sidi Kerir\u2019s, which <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/56ae4329-b447-4bbd-b1b0-ae90c9330db6\/sidpec-to-set-up-a-usd-159-mn-sodium%253cmark%253e-cyanide%253c%2Fmark%253e-factory-%2B-dp-world-to-look-into-setting-up-a-freezone-in-the-new-capital\" style=\"\" rel=\"noopener\">got the cabinet greenlight<\/a> in October. Instead the project seems to be a JV between the three parties, with each party\u2019s share yet to be determined.<\/p>\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>Travco subsidiary Jaz Hotel Group is looking to secure EGP 1.8 bn in low-interest <\/strong><strong>financing from the government<\/strong> to accelerate the launch of four new hotels in 2025, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2025\/01\/08\/%D8%B4%D8%B1%D9%83%D8%A9-%D8%AA%D8%A7%D8%A8%D8%B9%D8%A9-%D9%84%D9%80-%D8%AA%D8%B1%D8%A7%D9%81%D9%83%D9%88-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%A7%D9%82%D8%AA%D8%B1%D8%A7%D8%B6-1-8-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing unnamed sources. The hotels \u2014 which will add 1.2k rooms in Cairo, Marsa Matrouh, and Marsa Alam \u2014 are part of a EGP 3 bn investment plan.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> To encourage investors to build more hotels and reach the targets set, the finance and tourism ministries last month launched a new <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bea8025f-3500-43b2-a52b-7fb163b6dca1\/\" style=\"\" rel=\"noopener\">EGP 50 bn subsidized loan program<\/a> for the tourism sector, offering financing at 12% interest.<\/p>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egyptian companies plan to invest up to USD 200 mn in four industrial projects in <\/strong><strong>Morocco in 2025<\/strong>, Egyptian-Moroccan Business Council head Nezar Abou Ismail told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financing-and-investment\/65774\/%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-200-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A8%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%BA%D8%B1%D8%A8\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The projects will focus on key sectors, including food, beverages, industrial zones, and oil and gas. Agreements for two or three of these projects are expected during 1Q 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The original tender was extended four times<\/p>\n","protected":false},"author":1,"featured_media":658298,"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":[111,7106,93,72,955,4502,373,316,91,706,238,4867],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-debt","tag-energy","tag-enterpriseam","tag-hospitality","tag-jaz-hotel-group","tag-mining","tag-morocco","tag-oil-and-gas","tag-sidi-kerir-petrochemicals","tag-tourism","tag-travco","wpautop","entry"],"acf":{"mongo_id":"75580542-4882-4f64-835c-e2ed97336725","order":"13","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/412.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Shalateen to relaunch gold tender after original offers fail to meet required criteria. PLUS: Sidped + Korra Energi, Sidpec + Petrochemicals Holding Company + Draslovka,  Jaz Hotel Group","related_issue":[658275],"teaser":"The original tender was extended four times","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.faf253fa-1d06-4972-8feb-84dbe64fea06.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>Shalateen to relaunch gold tender after original offers fail to meet required criteria. PLUS: Sidped + Korra Energi, Sidpec + Petrochemicals Holding Company + Draslovka, Jaz Hotel Group - 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\/2025\/01\/09\/shalateen-to-relaunch-gold-tender-after-original-offers-fail-to-meet-required-criteria-plus-sidped-korra-energi-sidpec-petrochemicals-holding-company-draslovka-jaz-hotel-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shalateen to relaunch gold tender after original offers fail to meet required criteria. 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The deposit is estimated to hold around 1.3 mn ounces of gold, and USD 300 mn has so far been\u2026","rel":"","context":"In &quot;Mining&quot;","block_context":{"text":"Mining","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/mining\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/117.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574875,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/24\/a-blockbuster-gold-discovery-may-have-killed-sawiris-chances-of-nabbing-shalateen-mining\/","url_meta":{"origin":658297,"position":3},"title":"A blockbuster gold discovery may have killed Sawiris\u2019 chances of nabbing Shalateen Mining","author":"enterpriseam admin","date":"24 September 2020","format":false,"excerpt":"A blockbuster gold discovery may have killed Sawiris\u2019 chances of acquiring Shalateen Mining: Naguib Sawiris\u2019 interest in a majority stake in state-owned Shalateen Mining have reportedly hit a roadblock after the company made a blockbuster gold discovery in the Eastern Desert. 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