News / Egypt
Metropolitan Egypt, Infinity Energy Sign Contract at EGP 10m
Metropolitan Egypt for Consulting has contracted with Infinity Energy Systems to collect financing worth EGP 10m to establish a solar energy plant in Aswan.
PetroZenima Connects Drilled Wells to Production Platforms
PetroZenima has drilled eight wells in the 39km Mozhel field in the Gulf of Suez concession area. The first and second wells were connected and began producing from 500b/d to 800b/d of oil.
Egypt Exchanges 770MW of Electricity with Libya, Jordan
The total electricity capacity exchanged with Jordan and Libya is estimated at 770MW. Egypt's Ministry of Electricity aims to increase the electricity connection with a number of neighboring countries to about 2,000MW by next year.
GE Upgrades Kureimat Gas-Fired Power Plant
General Electric (GE) has performed an upgrade at the Kureimat combined cycle gas-fired power plant, located in Atfieh, Upper Egypt, which will improve the plant’s output by 7.8%.
EBRD to Finance Five FiT Projects in The Second Phase
EBRD is currently studying to finance five projects in the second phase of the Feed in Tariff (FiT) projects starting from the second half of 2017.
Egypt Receives $1b from WB
The World Bank (WB) announced that it released $1b to Egypt as the second tranche of its $3b loan agreement signed with the Arab country in December 2015.
AMOC Chooses BNY Mellon to Run GDR Program
Alexandria Mineral Oils Company (AMOC) chose the BNY Mellon bank to run its global depositary receipt (GDR) program. It will also hire Baker and McKenzie as the legal consultant.
El Molla Chairs MIDOR General Assembly
At the general assembly of Middle East Oil Refinery (MIDOR), El Molla assured that the Ministry's plan to develop refineries is an important part of Egypt's efforts to flourish the economy, covering the local market's fuel demands.
