amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        United Housing & Development   8.93        Raya Holding For Technology An   4.57        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        National Development Bank   6.72        Six of October Development & I   15.03        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Investment - Industry & Trade

Amwal Al Ghad English - 2014-09-20 07:43:54
Egypt must strip back bureaucracy to attract investment in its planned second Suez canal and bring in new laws making it easier for companies to get licences and land, a legal firm linked to the project said. Egypt plans to build the new canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia. The Suez Canal already earns Egypt about $5 billion a year in revenues, a vital source of hard currency for a country that has suffered a slump in tourism and foreign investment since a popular uprising toppled autocrat Hosni Mubarak in 2011. The new channel is part of a larger project to expand Suez port and develop 76,000 sq km (29,000 sq miles) around the canal into an international industrial and logistics hub. "If we want this project to work, and attract investors, we need to escape bureaucracy and make the licensing process easier," said Hani Sarie-Eldin, head of Sarie-Eldin & Partners, part of a consortium advising the government on the project. He said the government should issue new laws giving the new canal a special status, removing obstacles to investment that have undermined previous ventures in the biggest Arab nation. His firm was already drawing up drafts of the legislation that could be used, he told Aswat Masriya, a news website sponsored by the Thomson Reuters Foundation. Officials have said the new development would boost annual revenues from the Suez Canal, which is operated by the state-owned Suez Canal Authority, to $13.5 billion by 2023. Egypt's central bank governor told Reuters on Monday it had taken just eight days to raise the $8.5 billion needed to fund the project. The Suez Canal is the shortest shipping route between Europe and Asia and is a strategic asset for Egypt, a key U.S. ally which has a peace treaty with Israel. Though a measure of political stability has been restored since former army chief Abdel Fattah al-Sisi was elected president in May, investment has yet to return to pre-uprising levels. Sarie-Eldin said that further clarity on future tax and energy policies will boost investment in Egypt more broadly. "Investors are all in a state of alert currently towards the situation in Egypt," Sarie-Eldin said. "(They) need to see a clear declaration about taxes, energy and the direction of the government's economic policy during Egypt's next phase," he added. Power cuts dogging Egypt have become the biggest obstacle to luring back foreign investment after three years of political upheaval, the country's investment minister told Reuters on Tuesday. Electricity shortages mean the country often has intermittent outages for hours a day, frustrating many Egyptians and raising questions over whether foreign firms can operate here effectively. Sarie-Eldin was an adviser to the presidential campaign of former army chief Sisi in the run-up to the election before joining the Suez Canal consortium. "There is no relationship between the winning consortium for the Suez Canal project and my former role on the advisory board for President Sisi," Sarie-Eldin said. "The selection process has been completely transparent, through the office of a French consultant nominated by the World Bank." More»
Amwal Al Ghad English - 2014-09-20 07:29:22
Egypt has signed oil and gas exploration deals worth $187 million with several Western companies and a Tunisian firm, according to Reuters. The agreements cover seven exploration areas. Germany's RWE won two exploration blocks in the Gulf of Suez, while Tunisia's HBSI, Canada's TransGlobe, and Italy's Edison secured five blocks in Egypt's western desert. In December, Egypt's General Petroleum Corporation (EGPC) and Natural Gas Holding Co. (EGAS) announced an international auction for oil and gas exploration concessions in accordance with production sharing agreements. Reuters noted that the concessions are for areas in the Suez Canal, Egypt's western desert, the Mediterranean sea, and the Nile Delta. More»
Amwal Al Ghad English - 2014-09-18 15:36:59
The value of Saudi investments in Egypt amounts to US$5.2 billion, to top the list of investors in the North African state, said head of General Authority for Investment (GAFI) Hassan Fahmy. Fahmy further referred to the top five investors in Egypt are as follows; Saudi Arabia, the United Kingdom, UAE, Kuwait and Libya. Egypt’s government has begun a review of several economic legislation, with some modifications of existing laws, and added new legislation to facilitate the work of serious investors such as the bankruptcy law and the unified investment law and working to combat corruption in all its forms. More»
Amwal Al Ghad English - 2014-09-18 14:04:13
Hisham El-Khazindar, Co-Founder and Managing Director of Qalaa Holdings (formerly Citadel Capital), a leading African investor in infrastructure and industry, joined key policymakers and business leaders to discuss Egypt’s new economic landscape amidst a mood of optimism at the Euromoney Egypt conference, according to the company’s release. “The Egyptian government has implemented a courageous set of fiscal reforms this year which were a necessary step to rebalance the country’s finances,” said El-Khazindar. “The greatest impact of these measures from our perspective has come from energy reform. The gradual removal of subsidies on petroleum products resulted in pricing that is more in line with international norms. In parallel, the government has also opened the door for the importation of natural gas, coal and coal-like products.” “These reforms are essentially a validation of our investment thesis. Many of the investments that we made 7 years ago when we were first established as a private equity firm were geared towards the view that Egypt was in the process of becoming a net energy importer rather than a net energy exporter and that this shift would necessitate a re-pricing of energy and the opening up of the energy sector in general,” added El-Khazindar. As one of the largest investors in Egypt’s crucial energy sector Qalaa Holdings, in partnership with the Egyptian government, is in the process of building the Egyptian Refining Company (ERC), a US$ 3.7 billion greenfield refinery which will come on stream in 2017 to meet Egypt’s deficit in petroleum products particularly diesel. The strategic national project, which is to date the largest project finance deal in Africa, has enjoyed the unwavering support of successive Egyptian administrations since it was merely an idea on the drawing board in 2006. Qalaa Holdings has undergone a transformation process that has seen it develop from a private equity model to an investment holding company with a focus on the core industries of energy, cement, agrifoods, transportation & logistics, and mining. The new structure gives the company the leeway to hold investments longer and thus create more value for both shareholders and the regional economies in which it invests. “Earlier this year, as part of our transformation, we increased our capital to EGP 8 billion, expanded our balance sheet and began disposing of non-core assets and investing the proceeds into our core assets,” said El-Khazindar. “Now we are consolidating our subsidiaries in refining, gas distribution, power generation and distribution, dairy farming and cement production. With the larger balance sheet, the cash flows from divestitures and the majority ownership in our core assets, we are able to grow faster in the areas that we had bet on a few years ago.” More»
Eslam Salah, Enas Shabaan - 2014-09-18 09:51:47
Alexandria Businessmen Association (ABA) is targeting to pump finance worth EGP100 million for micro projects in Al Sharqia Governorate for 5 years, Chairman Marwan Al Sammak revealed. In statements to Amwal Al Ghad , Al Sammak explained that it is schedule for the first phase of the project to start by the end of the current year through providing EGP10 million finance for those micro projects. The finance comes among ABA's plan for this year and which it is aiming injecting EGP440 million for projects, Al Sammak added. ABA's total number of branches are 60, and it is seeking to boost them to 64 by 2014-end by launching 4 new branches. More»
Enas Shabaan, Sanaa Allam - 2014-09-18 09:23:05
Aswan Investors Association will launch four new factories for ceramics with EGP1.2 billion investment cost, Head of Association Mr. Sutohey Mostafa asserted. In statements to Amwal Al Ghad, Mostafa revealed that the new factories will be on an area ranging between 15.000 to 25.000 meters for the one factory, along with providing nearly 4.000 new job vacancies by launching the project. Industrial Development Authority in Egypt approved to allocate plots for the new factories and it is seeking to get the approval of Petroleum Ministry to supply natural gas for factories, Mostafa explained. Furthermore, he added that Aswan has raw materials which will be needed by ceramics industry, noting that it has been monitoring the growing demand for ceramic rates during the current period. More»
Amwal Al Ghad English - 2014-09-18 08:46:25
 Egyptian Chemical Industries (Kima) (EGCH.CA) announced that it has obtained EGP300 million loan from Chemical Industries Holding Company in order to continue liquidity to start the project of rehabilitation the company to operate with natural gas instead of the electric energy. Kima's capital ups to EGP1.890 billion distributing over 378 million shares with a nominal value of 5 pounds for per share. More»
Amwal Al Ghad English - 2014-09-18 08:06:34
Egyptian General Petroleum Corporation (EGPC) will buy 65 percent of its oil product imports from the United Arab Emirates' ADNOC for one year after the government approved the deal on Wednesday. The agreement covers gasoline, diesel, heavy fuel and liquefied petroleum gas (LPG) that is used in homes,Egypt's cabinet said in a statement. It did not give the prices agreed but an oil ministry official said last month that Egypt was seeking to buy about $9 billion of oil products from the UAE and that some of the products would come as grants and the remainder under a credit agreement that would be repaid in installments. The official said Egypt imports petroleum products worth around $1 billion to $1.3 billion a month. Egypt has struggled to curb its swelling budget deficit and meet its soaring energy demands, which have resulted in daily electricity cuts around the country of 86 million people. More»
Gehad Abd El-Ghany - 2014-09-17 16:10:01
The Kenya-Uganda railway operator has secured asset financing deal with Standard Bank of South Africa and CFC Stanbic Bank to finance the acquisition of 20 locomotives Africa Railways, a core subsidiary of Egypt-based Qalaa Holdings (CCAP.CA), announced that its regional railway operator, Rift Valley Railways (RVR) secured a $20 million (KES 1.8 billion) asset financing deal with Standard Bank of South Africa and CFC Stanbic Bank towards the acquisition of the 20 locomotives from the USA. The new locomotives will allow RVR to significantly ramp up freight volumes, it said. Standard Bank will cover 80 percent of the cost of the locomotives. According to the Bank, rail asset deals of this scale remain relatively rare in East Africa. “Asset backed financing is premised on projected cash flows of the asset being financed. Our due diligence on RVR gave us confidence that this investment proposal will indeed generate the revenue streams required to service the loan,” said Kwame Parker, Head of Power and Infrastructure East Africa for Standard Bank. “We view RVR as an ongoing success story,” said Qalaa Holdings Managing Director, Karim Sadek. “Securing a commercial financing deal of this nature is a vote of confidence in the turnaround that we have been implementing alongside the RVR management and our local partners for the past two years.” “Insufficient locomotive power is the single biggest obstacle preventing a step change in the amount of volumes we transport,” said RVR CEO, Carlos Andrade. “This new financing not only alleviates the bottleneck but is also a vote of confidence by a major international lender in our operations.” The first three of the 20 locomotives that RVR has acquired arrived in Mombasa in early September with full delivery expected by May of next year. When combined with the locomotives that are being rehabilitated in the rail operator’s Nairobi workshop the trains will double RVR’s mainline locomotive fleet, substantially increasing its freight haulage capacity in Kenya and Uganda. Ongoing wagon rehabilitation in Nairobi and Kampala is expected to bring RVR’s total number of wagons to 2,400. In April 2014 Africa Railways acquired an additional 34 per cent stake in RVR from Transcentury Limited, a Nairobi-listed infrastructure company, raising its total ownership stake to 85 per cent with the remaining 15 per cent being held by Bomi Holdings. More»
Eslam Salah, Maha Essam, Sayed Badr - 2014-09-17 12:45:15
Egyptian Minister of Tourism Hisham Zazou said Suez Canal project will contribute in doubling the revenues from US$5 billion to US$13 billion by 2023. The Minister added in a keynote speech at Euromoney’s 19th Annual Conference Cairo on Wednesday that the national projects support the country's attitude towards increasing revenues and reducing unemployment rates. The government is aiming to transform the Egyptian market into an attractive destination for foreign investment to achieve the target rates of development during the past years, Zazou asserted. We should remove the investment obstacles and solve dilemmas in order to make Egypt an attractive country for foreign investments, Zazou noted. Furthermore, government is targeting removing all the challenges and to achieve reforms so as to attain balance and social justice. More»