Egypt Gas’s Board of Directors accepted an agreement with the Swiss Georg Fisher Ltd and the UAE’s Corys Building Materials to establish a joint venture (JV) specialized in producing polyethylene (PE) pipes, according to Alborsa news.
According to Egypt Gas, the new JV will have a capital of around EGP 340 million, divided into 340,000 shares, with a nominal share value of EGP 1,000.
It is worth mentioning that Jordan’s National Electric Power Company (NEPCO) and the Jordanian-Egyptian FAJR for Natural Gas Transmission and Supply Company have signed two gas supply deals. Under the first agreement, 4 million standard cubic feet per day (mmscf/d) of natural gas will be provided to the Jordan Phosphate Mines Company (JPMC). The second agreement was signed with Nuqul Group.