INVESTMENT WATCH-

Tunisia + EIB discuss investment for transport projects: Tunisia’s Transport Minister Rachid Amri and a delegation from the European Investment Bank (EIB) discussed potential investment for projects related to clean transport, maritime transport, mass public transportation, and the blue economy, Babnet reports.

EIB has supported Tunisia before: The country received a EUR 123 mn loan from the EIB in April for the construction of the Bizerte Bridge project. The African Bank of Development also loaned Tunisia EUR 122 mn for the project.

ZONES-

Egypt lines up solar panel manufacturing: The first USD 1.8 mn phase of a solar panel mounting and installation factory is set to kick off in Egypt’s Ain Sokhna industrial zone within two months, according to a statement. The factory is being built under a contract inked between industrial developer Main Development Company and project owner Pyramids Alu — a JV between Egypt’s Alu Africa and China’s Alu Pro and should eventually reach a monthly capacity of 1.8k tons and only local components in its production.

TRADE-

Turkey + Brazil biggest buyers of Russian diesel after EU embargo: Turkey and Brazil have been the biggest importers of Russia’s searborne diesel and gasoil since the EU placed an embargo on the import of Russian oil products in 2023, Reuters reports, citing data from market sources and finance firm LSEG.

Russia’s exports to Turkey increased to 1.07 mn metric tons of low-sulfur diesel and gasoil in September, up from 1.04 in August. Russian diesel exports to Africa — where Libya, Tunisia, Senegal, and Egypt were the top importers — fell to 0.44 mn tons from 0.73 the month prior.

STORAGE + WAREHOUSES-

Alijarah opens new warehouses: Doha-based firm Alijarah Holding has opened new warehouses in Wadi Aba Saleel, Qatar, according to a disclosure. The new warehouses — each covering an area of 300 to 450 sqm — feature round-the-clock security, firefighting systems, surveillance equipment, and various service amenities, the statement said. Additionally, they are equipped with energy-efficient lighting to promote environmental sustainability.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Emirates resumes flights to Iraq: Emirates Airlines resumed flights on Tuesday to Iraq’s Basra and Baghdad, while flights to Iran’s Tehran and Lebanon’s Beirut will remain suspended till 15 October 2024. (Statement)
  • Sharjah Airport onboards UPS: Global logistics giant UPS has been added among the cargo companies operating at the UAE’s Sharjah International Airport, with four weekly cargo flights. (Wam)
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