The Main Development Company (MDC) has signed $10 million deal with Al-Ahram Chemicals and Resins and Derivatives Company to establish a new industrial complex for producing Formaldehyde and its derivatives in the Sokhna Industrial Zone, part of the Suez Canal Industrial Zone (SCZONE).
Leaders of Egypt’s refining sector companies convened in Alexandria to explore integration and share expertise among state-owned companies, in line with the Ministry of Petroleum and Mineral Resources' (MoPMR) strategic development goals, according to a MoPMR statement.
Held under the directives of Karim Badawi, Minister of Petroleum and Mineral Resources, the meeting highlighted progress on several key projects in the sector, most notably the new diesel complex by Assiut National Oil Processing Company (ANOPC), which is set to begin production next year. Other significant developments discussed included the construction of five new storage tanks at Alexandria Petroleum Company(APC) to support export operations, as well as the ongoing renewal of 21 existing tanks alongside the construction of six new ones at Ameriya Petroleum Refining Company.
Egypt is exploring broader opportunities for its petroleum and engineering companies to participate in Saudi Arabia’s NEOM project, as revealed during the official visit by Minister of Petroleum and Mineral Resources Karim Badawi to the Kingdom.
Badawi, who led a delegation including heads of ENNI and PETROJET, met with NEOM CEO Aiman Al-Mudaifer and other senior company officials to review developments in the project and the opportunities available within the framework of Saudi Vision 2030, as per a statement by the Egyptian Ministry of Petroleum and Mineral Resources (MoPMR).
Expanding on the visit's industrial focus, Badawi also met with the CEO of the Saudi Basic Industries Corporation (SABIC), Abdulrahman Al-Fageeh, to strengthen ties in the petrochemical sector. The minister asserted the deep relations between Egypt and Saudi Arabia, emphasizing a shared commitment to expanding cooperation in fertilizers and downstream industries.
Cheiron has signed with the Egyptian General Petroleum Corporation (EGPC) an agreement for oil exploration and production in the East Gemsa offshore area in the Gulf of Suez. The deal, which covers the drilling of four new wells, involves overall investments exceeding $30 million, in addition to a $1 million signature bonus.
The Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of the first Sustainable Aviation Fuel (SAF) production license agreement, considering a major step toward advancing low-carbon energy. The deal was between the Egyptian Petrochemicals Holding Company—through its subsidiary, the Egyptian Sustainable Aviation Fuel Company (ESAF)—and Honeywell UOP, one of the pioneering global developers of SAF technology.
Infinity Power, Africa’s largest renewable energy provider, has signed an Engineering, Procurement, and Construction (EPC) contract with POWERCHINA Huadong Engineering Corporation Limited (HDEC), laying the ground for its 200 megawatt (MW) Ras Ghareb Wind Project in the Gulf of Suez region. Once complete, the 200 MW wind farm is expected to provide clean electricity to more than 300,000 homes and save over 400,000 tons per year (t/y) of carbon dioxide.
Egypt advanced talks with the European Bank for Reconstruction and Development (EBRD) on financing an upcoming airborne geophysical survey and explored new financing avenues for mining projects during Minister of Petroleum and Mineral Resources Karim Badawi's visit to London. Badawi led the Egyptian-British business delegation as part of the Ministry's strategy to reduce investment risks and attract new partners, as per the ministry's statement.
Karim Badawi, Minister of Petroleum and Mineral Resources, met four international mining executives during his London visit. The Minister reviewed development plans, progress, and reforms designed to create an attractive investment environment for Egypt's mining sector, according to the ministry's statement.
Egypt is seeking partnerships with investors and financial institutions to unlock its untapped mineral wealth and boost the sector's contribution to the national economy, said Minister of Petroleum and Mineral Resources Karim Badawi during the Egyptian-British business mission to London.The visit began with a session titled “Untapped Mining Opportunities and New Commercial Discoveries,” that gathered representatives of around 30 European mining companies, banks, financial institutions, and advisory firms.
During an official visit to London as the head of the Egypt‑UK business mission for mining, Minister of Petroleum and Mineral Resources Karim Badawi held talks with Hoda Mansour, Managing Director and Vice Chairwoman of Sukari Gold Mines Company, representing global mining major AngloGold Ashanti.
