Cypriot mining company Fawakheir Mines Complex (FMC), formerly known as SMW Gold Limited is moving forward in 2026 to establish Center of Excellence in cooperation with the Egyptian government to support education and training in the country’s mining sector, the company’s Executive Chairman Philipp Hiendl said.
Karim Badawi, Minister of Petroleum and Mineral Resources, inspected the Damietta liquefied natural gas (LNG) plant, situated northwest of Damietta Port, to review the readiness and efficiency of its operational systems.
During the tour, the Minister inspected the facilities and various units of the plant, and listened to a briefing from Yassin Mohamed, Deputy CEO of Damietta Liquefied Natural Gas Company (DLNG), on the operational system and the plant’s liquefication capacity, which reaches about 5 million tons of LNG annually.
Energy solutions firm Korra Energi, reported a 42.5% year-on-year (YoY) increase in gross profit to EGP 373 million during the first quarter (Q1) of 2026, backed by the positive performance of the energy and construction segment, which recorded a 49.4% increase in gross profit, according to the company's press release. Operating profit climbed 31.9% to EGP 260.2 million, the release added.
Moreover, Korra Energi has secured new credit facilities from Bank of Alexandria and Kuwait Finance House to finance the execution of the Gulf of Suez 500 kilovolt (kV) transmission lines project.
The Egyptian Exchange (EGX) received an application to list the shares of the Engineering for the Petroleum and Process Industries (ENPPI) on the main market, as a preparatory move for privatising a stake of the company.
According to a statement from the EGX Listing Department, the application was submitted on June 23, 2026, and is now under review to ensure all required documentation is complete before being presented to the Listing Committee.
ENPPI plans to list issued capital of $357.08 million, divided into 2.857 billion shares, with a par value of $0.125 per share.
Karim Badawi, Minister of Petroleum and Mineral Resources, chaired the first meeting of the Executive Committee of the Egypt Mining Forum (EMF) 2026, scheduled to take place on 28–29 September 2026 in the New Capital. The meeting brought together representatives from leading Egyptian and international mining companies alongside the forum organizers to review preparations for the event.
The petroleum sector recorded 0.7% growth in the third quarter (Q3) of fiscal year (FY) 2025/2026, marking its first positive growth rate since the first quarter of FY2023/2024, said Ahmed Rostom, Minister of Planning and Economic Development, While reviewing the country's economic performance indicators.Â
Rostom noted during the Cabinet's weekly meeting the improvement was driven by higher domestic production of crude oil, condensates, and liquefied petroleum gas (LPG), signaling a recovery in one of the country’s most strategic economic sectors.
China’s SANY Group, a leading global wind turbine manufacturer, signed a Memorandum of Understanding (MoU) with the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA) to establish Egypt’s first wind turbine manufacturing plant and develop a wind power project in the North Gulf of Suez.
The MoU provides for the construction of a factory within the Suez Canal Economic Zone to produce turbines and components for domestic wind projects, while exporting surplus output to regional markets. It also covers the development of a 2,000‑MW wind farm, to be implemented in local currency, in line with Egypt’s national energy strategy.
Khaled Hashem, Minister of Industry, held a meeting with Andrew Daniel, Chairman of IRSC Renewable Energy Solutions, to explore opportunities for cooperation to support the industrial sector’s green transition and enhance the competitiveness of Egyptian industry.
The discussions reviewed the company’s activities and experience in developing and implementing solar energy projects for the industrial sector since 2011, with total capacities of projects executed and under execution reaching about 170 megawatts. The company relies on specialized Egyptian engineering expertise, reflecting its ability to provide practical and reliable solutions for factories and production facilities.
Dana Gas, the Middle East’s largest regional private sector natural gas company, revealed its drilling results across its Nile Delta concessions, with several wells successfully completed and tied into existing infrastructure. The new wells added reserves and boosted production, enabling Egypt operations to contribute more than 30,000 barrels of oil equivalent per day (boe/d) to the company’s overall output.
Norwegian renewable energy company Scatec plans to invest up to $5 billion in Egypt over the next two years across several fields, including renewable energy-powered desalination, green data centers, solar and wind projects, battery energy storage systems (BESS), and infrastructure supporting the green transition, according to the Cabinet’s statement.
The investment plans were revealed during a meeting of Prime Minister Mostafa Madbouly with senior Scatec executives to review the status of projects being implemented in Egypt.
