News / Egypt
EBRD’s Investments in Egypt Hit $2b
The European Bank for Reconstruction and Development (EBRD) has invested $2b in Egypt through 32 projects since 2012, according to EBRD Director, Philip ter Woort. Investments of the bank were primarily focused on energy, industrial, transport, and infrastructure sectors.
El Molla Meets with Heads of 40 Companies
Tarek El-Molla, Minister of Petroleum and Mineral Resources, met with the heads of 40 joint venture companies to discuss different methods of boosting oil and gas production in Egypt, reported Egypt Oil & Gas.
Egypt to Launch Tender for Solar Projects in Benban Area
In a few days the Egyptian government will launch a tender for services needed for solar energy projects in Benban area. Services needed include security, technical, and administrative services.
All Fertilizer and Cement Companies to Shift to Coal
The Ministerial Economic Committee has agreed to broaden the use of coal as an alternative fuel for natural gas in all fertilizer and cement factories. The decision is expected to be gradually applied, as appropriate storage to accommodate the needed amount of coal venues have not been set, a source at the ministry of petroleum told Egypt Oil & Gas.
Petroleum Ministry Decides Against IPOs for Petrochemical Projects
The Ministry of Petroleum and Mineral Resources has changed plans to generate capital for petrochemical projects through the Egyptian Exchange.
Egypt, Russia Sign Nuclear Contract This Month
Egypt and Russia are planned to sign this month the main contracts for setting up Egypt's first nuclear plant in Dabaa, Russian Ambassador in Cairo, Serge Kirpichenko announced.
Additional 400,000 Units to be Connected to Gas Grid by March
The Egyptian government has set plans to connect the national gas grid to an additional 400 thousand units by the third quarter of the current 2015/2016 fiscal year. The plans will be funded by the world bank's recent $1b loan, and will be implemented through 13 companies.
Italy to Upgrade Egypt’s MIDOR, Other Energy Projects
Italy has agreed to upgrade Egypt’s Middle East Oil Refinery (MIDOR), participate in building a complex for petrochemical industries in Ain Sokhna, and update a number of combined-cycle power plants, Head of the Cairo’s Egyptian-Italian Business Council Khaled Abu Bakr said.
