News / Egypt
Egypt Presents Project Proposals for Saudi Investment
Egypt has presented proposals and feasibility studies for projects in the energy, housing, agriculture, and tourism sectors to the Saudi Arabian government for examination and possible investment.
Solb Misr Announces $64m in Losses
Egyptian steel company Solb Misr had losses of around EGP500m ($64m) in 2015, Chairman Gamal El Garhy said.
Egypt to Import 3m Barrels of Crude Monthly from Kuwait
Egypt and the Kuwait Petroleum Corporation (KPC) have signed an agreement to supply Egypt with up to 3m barrels of oil per month through September, as well as solar and jet-fuel supplies worth $1.2b annually.
French Banks to Finance MIDOR Refinery Expansion
French banks, Credit Agricole and BNP Paribas will offer a $1.2b loan to expand Egypt’s MIDOR refinery.
KarmSolar Aiming to Join 1.5m Feddan Desert Reclamation Project
Egyptian solar energy company KarmSolar has concluded a cooperation agreement with Plus Leasing to provide financing for private sector companies involved in the 1.5m feddan desert reclamation project, inaugurated in December, to support the use of renewable energy.
Egypt, Saudi Arabia Reach Financing Agreements for Development
Egypt and Saudi Arabia have come to terms on a number of loans for investment and development projects in Egypt, that Riyadh has pledged to Cairo since March 2015.
NBE Offers $894m Loan to Electricity Sector
A coalition of banks led by the National Bank of Egypt (NBE) is offering Egypt’s state-run Egyptian Electricity Transmission Company (EETC) financing worth EGP7b ($894m) to be repaid over 15 years.
Egypt Lures Chinese Investment in Electricity, Transportation
An Egyptian-government committee has decided on a series of projects in electricity generation, construction, and transportation designated for bilateral cooperation with China, which will be offered to the Chinese delegation accompanying Chinese President, Xi Jinping's visit to Egypt in February.
