News / Egypt
Egypt Boosted Power Transmission
The Egyptian Ministry of Electricity has spent around $238m on enhancing power transformer stations to support Egypt’s electricity distribution network in preparation for the addition of three new power plants.
El Molla Issued New Promotions
Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, issued promotions and transfers in the petroleum sector.
Ethydco to Export 70% of Polyethylene
In an effort to increase USD influx, Sidi Keriri Petrochemicals Company (Sidpec) intends to export 70% of its polyethylene that is produced at its new Ethydco facility.
Power Prices to Remain Stable
As a result of the EGP devaluation, the Egyptian Ministry of Electricity will incur about EGP 100b yearly, EGP 50b came due to the repricing of fuel used in power generation. Yet, there will be no increase in the selling prices of electricity before the beginning of the next fiscal year.
Exclusive: El Molla Speaks at ADIPEC
During the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, joined a panel on Global Ministerial Dialogue for empowering emerging markets.
Aramco Halted Oil Cargos Indefinitely
Saudi Arabia’s Aramco has informed Egypt that shipments of oil products expected under a $23b deal would be halted indefinitely.
Egypt to Build Port for Coal-Fired Plant
Chinese Dongfang started studying the establishment of a private port for the construction of a coal-fired plant in Hamraween area in the Red Sea governorate.
FiT Challenged with Devaluation Backlash
Construction companies and solar firms withdrew from new and renewable energy projects due to increased costs as a result of EGP devaluation.
