{"id":685204,"date":"2026-02-11T00:00:00","date_gmt":"2026-02-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/"},"modified":"2026-02-11T00:00:00","modified_gmt":"2026-02-11T00:00:00","slug":"a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/11\/a-eur-90-mn-eu-grant-is-coming-our-way-to-support-the-grid-and-renewable-energy-developments\/","title":{"rendered":"A EUR 90 mn EU grant is coming our way to support the grid and renewable energy developments"},"content":{"rendered":"

\n

The EU adds EUR 90 mn to the race to fix Egypt\u2019s grid<\/p>\n

A EUR 90 mn grant from the European Uni<\/strong>on is coming our way to support <\/strong>investments in the electricity grid and renewable energy development<\/strong>, according to a cabinet statement<\/a>. European backing has been one of our go-tos for grid support, with the European Bank for Reconstruction and Development committing<\/a> EUR 200 mn to support grid upgrades last year. Another EUR 35 mn grant was also inked for Scatec\u2019s green ammonia project<\/a> in Ain Sokhna.<\/p>\n

Why this matters:<\/strong> The grid wasn\u2019t built for volatile wind and solar energy, risking large chunks of new capacity going unused. The Egyptian Electricity Transmission Company spent EGP 26.3 bn<\/a> upgrading the grid\u2019s infrastructure during the last fiscal year, and Investment Minister Hassan El Khatib has spoken about the need for USD 45 bn in distribution infrastructure investments<\/a> to integrate new clean capacity.<\/p>\n

\n

Eastern Company, Philip Morris hike cigarette prices<\/p>\n

State-owned <\/strong>Eastern Company<\/a><\/strong> approved a direct price increase across <\/strong>several of its cigarette brands<\/strong>, with the new prices officially taking effect yesterday, it said in a disclosure (pdf)<\/a> to the EGX. Under the revised list, the prices of Cleopatra King Size, Cleopatra Soft Queen, Cleopatra Box, Cleopatra Super, and Mondial cigarettes were raised by around 9%.<\/p>\n

US tobacco giant Philip Morris also hiked prices by up to 8% for its cigarettes<\/strong> and<\/strong> heated tobacco products<\/strong> last week<\/strong>, according to a statement (pdf)<\/a>. The price of its higher-end smokes climbed as much as 6%, while its more affordable L&M brand saw an 8% increase along with its Terea heated tobacco range.<\/p>\n

IN CONTEXT-<\/strong> Cigarette price hikes are rooted in a tax framework that treats tobacco as a dependable revenue source for the government, with excise duties and VAT forming a large share of retail prices and partially funding public health spending. The latest increases build on a July 2025 VAT law amendment<\/a> that expanded price brackets and allowed annual hikes of up to 12%. The Tax Authority leveraged this mechanism in October to impose a second 12% tobacco tax increase<\/a> this FY \u2014 reinforcing tobacco\u2019s role as a budget lever with limited demand fallout.<\/p>\n

\n

Madinet Masr taps Al Shorouk Construction for EGP 4.8 bn Sarai build-out<\/p>\n

M<\/strong>adinet Masr<\/strong> signed a EGP 4.8 bn MoU with <\/strong>Al Shorouk Construction<\/a><\/strong> to <\/strong>construct 81 residential buildings in the Elan phase of its Sarai project in East Cairo<\/strong>, according to a statement (pdf)<\/a> from the developer. Delivery is expected by the end of 2027.<\/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","protected":false},"excerpt":{"rendered":"

Plus: Smoke price hikes, Madinet Masr taps Al Shorouk Construction for Sarai build-out<\/p>\n","protected":false},"author":1,"featured_media":685206,"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":[111,101,247,6825,244,72,7203,1730,83,151,573,7401],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-685204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-development-finance","tag-eastern-company","tag-egypt-eu-relations","tag-electricity","tag-enterpriseam","tag-madinet-masr","tag-philip-morris","tag-real-estate","tag-renewables","tag-scatec","tag-tobacco","wpautop","entry"],"acf":{"mongo_id":"61d2a1ac-b78b-4fd5-b965-fd46633838d5","order":"9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1623.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EU backs grid and renewables developments with EUR 90 mn grant","related_issue":[685189],"teaser":"Plus: Smoke price hikes, Madinet Masr taps Al Shorouk Construction for Sarai build-out"},"yoast_head":"\nA EUR 90 mn EU grant is coming our way to support the grid and renewable energy developments - 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The loan will be used to finance part of EETC's plan to build and upgrade five high voltage substations 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":608094,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/ebrd-could-greenlight-funds-for-electricity-grid-modernization\/","url_meta":{"origin":685204,"position":1},"title":"EBRD could greenlight funds for electricity grid modernization","author":"enterpriseam admin","date":"15 October 2023","format":false,"excerpt":"The total project would require EUR 200 mn, with the remaining EUR 35 mn coming from EU grants","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/697.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593758,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/09\/afd-earmarks-eur-1-bn-for-egypt-development-projects-over-coming-4-years\/","url_meta":{"origin":685204,"position":2},"title":"AFD earmarks EUR 1 bn for Egypt development projects over coming 4 years","author":"enterpriseam admin","date":"9 October 2019","format":false,"excerpt":"The French Development Agency (AFD) has allocated EUR 1 bn to fund projects in Egypt over the coming four years, regional director Mathieu Vasseur said yesterday, according to the local press. Egypt has already received EUR 200 mn of the amount this year, Vasseur said, pointing out that the agency\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572623,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/01\/eu-to-provide-eur-24-8-mn-grants-to-renewable-energy-in-egypt\/","url_meta":{"origin":685204,"position":3},"title":"EU to provide EUR 24.8 mn grants to renewable energy in Egypt","author":"enterpriseam admin","date":"1 July 2020","format":false,"excerpt":"EU to provide EUR 24.8 mn grants to renewable energy in Egypt: The EU will give Egypt a EUR 24.8 mn grant to expand the EBRD\u2019s Green Energy Financing Facility (GEFF), which it launched to help Egyptian businesses invest in renewable energy, according to a press release. Extending credit through\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590290,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/17\/eib-could-provide-usd-300-mn-for-new-rail-line-plus-madinet-masr-acquires-minka-tenth-of-ramadan-dry-port-green-methanol-new-freezones-incoming\/","url_meta":{"origin":685204,"position":4},"title":"EIB could provide USD 300 mn for new rail line. PLUS: Madinet Masr acquires Minka, Tenth of Ramadan dry port, green methanol, new freezones incoming","author":"enterpriseam admin","date":"17 July 2023","format":false,"excerpt":"The EBRD has provided EUR 40 mn to help fund the line, which will be used for freight and passenger trains","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\/2023\/7\/647.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597252,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/eu-to-provide-egypt-with-eur-20-mn-in-funding-to-wean-itself-off-russian-gas\/","url_meta":{"origin":685204,"position":5},"title":"EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas","author":"enterpriseam admin","date":"21 July 2019","format":false,"excerpt":"EU to provide Egypt with EUR 20 mn in funding to wean itself off Russian gas: The EU is planning to provide Egypt with EUR 20 mn in funding for its natural gas sector, according to statements by the EU delegation\u2019s head in Egypt Ivan Surkos picked up by Al\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/17.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=685204"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/685204\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/685189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/685206"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=685204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=685204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=685204"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=685204"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=685204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}