News / Egypt
Sisi Ratifies New Budget, $8m Earmarked for Fuel Subsidies
Egypt's President Abdel Fattah El-Sisi on Thursday ratified the state budget for the fiscal year 2015/16 following amendments by the ministry of finance to slash projected budget deficit, according to Egyptian state TV.
IFC to Give $50m Loan to Egypt’s PICO
IFC, a member of the World Bank Group, is providing a $50 million loan to Cheiron Finance Limited, a subsidiary of Egypt’s PICO International Petroleum, in an effort to bolster energy supplies in the Arab World's most populous state.
Egypt Buys 290 Natural Gas Fueled Buses from Ukraine
The Public Transport Authority signed a contract with the Ukrainian City Transport Group for the supply of 290 natural gas-fueled buses in the Cairo Governorate with fund of EGP 500m.
EGAS Stops Gas Supply to 78% of Fertilizer Factories During Ramadan
The Egyptian Natural Gas Holding Company (EGAS) suspended gas supply pumping to 80% of fertilizer plants of dense fuel consumption in Egypt.
Unstable Gas Supplies Affect Ezz el Dekheila
Egypt steel producer Al-Ezz Dekheila Steel Company, owned by Ezz Steel, announced Monday it has registered EGP 116m in net losses in the first quarter (Q1) of 2015. The latest figures are down from the EGP 144m in net losses achieved in the corresponding period in 2014. Italy’s Building Energy to Build $200m Solar Project in Egypt
Italian-based Building Energy, a leader in renewable power, announced Monday it had signed an agreement worth $200 million to build two 50 MW photovoltaic plants in Egypt.
Bank Audi to Give 400m Loan to Electricity
Bank Audi-Egypt has participated in a loan that will be given to the Egyptian Electricity Holding Company (EEHC), according to Mohamed Abbas Fayed, Deputy Chairman & Managing Director of the bank.
Egypt Introduces New Line of Solar Panels
Prime Minister Ibrahim Mehleb inaugurated a production line for solar panels on Sunday, as Egypt continues to shift towards using renewable energy.
