{"id":73605,"date":"2023-09-20T00:00:00","date_gmt":"2023-09-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/09\/20\/sczone-eyeing-egp-30-bn-loan-for-green-hydrogen-projects-qterminals-officially-acquires-majority-stake-in-kramer-plus-more-from-ksa-japan-opaz-and-iran\/"},"modified":"2023-09-20T00:00:00","modified_gmt":"2023-09-20T00:00:00","slug":"sczone-eyeing-egp-30-bn-loan-for-green-hydrogen-projects-qterminals-officially-acquires-majority-stake-in-kramer-plus-more-from-ksa-japan-opaz-and-iran","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/09\/20\/sczone-eyeing-egp-30-bn-loan-for-green-hydrogen-projects-qterminals-officially-acquires-majority-stake-in-kramer-plus-more-from-ksa-japan-opaz-and-iran\/","title":{"rendered":"SCZone eyeing EGP 30 bn loan for green hydrogen projects + Qterminals officially acquires majority stake in Kramer. PLUS: More from KSA, Japan, OPAZ, and Iran"},"content":{"rendered":"

DEBT WATCH- <\/strong><\/p>\n

SCZone wants a big loan to fund green hydrogen projects: <\/strong>The General Authority for the Suez Canal Economic Zone (SCZone) is on course to take out a 15-year, EGP 30-bn loan from a syndicate of local banks to finance the infrastructure for a number of green hydrogen projects, a source at the Finance Ministry told Enterprise Logistics. The authority has secured the Finance Ministry\u2019s guarantee on the loan.<\/p>\n

The lenders: <\/strong> Led by the National Bank of Egypt (NBE), the syndicate includes Banque Misr, Suez Canal Bank, CIB, Banque du Caire, and Arab African International Bank.<\/p>\n

Not the first of its kind: <\/strong> The authority in 2021 borrowed some EGP 10 bn from the same six banks to develop the Ain Sokhna and Port Said ports, our source said. <\/p>\n

SHIPPING + MARITIME- <\/strong><\/p>\n

Maritime <\/strong> navigation in KSA is about to get a boost: <\/strong> Saudi Arabia\u2019s General Authority<\/a> for Survey and Geospatial Information<\/a>(GEOSA) has inked a contract with geo-data specialist Fugro<\/a> to conduct a comprehensive survey of the kingdom\u2019s eastern coastline with the aim of improving safety and efficiency for shipping, according to a press release<\/a>. Fugro will deploy its high-speed hydrography solution to analyze geo-data across an area of 11k sq km, according to the release. Fugro will also partner with nautical chart creation specialist IIC Technologies<\/a> to develop the final project deliverables. The hydrographic technologies, which will be deployed by a team of international hydrographic experts, will deliver \u201crapid and reliable data in compliance with international standards,\u201d Fugro Solution Director Hydrography Marco Filippone commented in the release.<\/p>\n

M&A WATCH- <\/strong><\/p>\n

It\u2019s official, Qterminals snaps up majority stake in Kramer Group: <\/strong> Qatar-based terminal operator Qterminals<\/a> has added Rotterdam-based logistics service provider Kramer Group<\/a> to its operational portfolio, after acquiring a majority stake in the outfit, according to a company statement<\/a>. The addition means that the company has established a foothold in the Port of Rotterdam, Europe\u2019s largest port. The statement did not disclose the size or value of Qterminals\u2019 majority stake in Kramer Group.<\/p>\n

The arrangement was in the works since last month: <\/strong> Qterminals inked a sale and purchase agreement<\/a> mid-August, paving the way for the acquisition. The move is expected to boost the company\u2019s standing as it eyes potential projects in Europe and other developed global markets, Qterminals CEO Neville Bissett said at the time. Following the acquisition, Qterminals looks to retain the services of the group\u2019s CEO Andre Kramer as well as \u201ckey management personnel and employees,\u201d Bisset also said. <\/p>\n

Flensburg-based ferry and cargo group <\/strong>FRS<\/a><\/strong> has sold its subsidiary FRS Iberia to <\/strong> Danish <\/strong> ferry operator <\/strong>DFDS<\/a><\/strong>, according to a statement<\/a>. Ferry lines between Spain and Morocco will now be operated by DFDS. The ferry line is expected to transport some 1.9 mn passengers and 370k cars in 2023, and is a market leader in fast ferry operations and freight traffic, according to the statement. The \u201csale of the Iberia business is an important step for the expansion into new markets and a modernized, low-emission development,\u201d FRS CEO G\u00f6tz Becker commented.<\/p>\n

ALSO WORTH KNOWING- <\/strong><\/p>\n