amwalalghad :: Industry & Trade

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        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        Canal Shipping Agencies   7.39        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        Egyptian for Tourism Resorts   0.69        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        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 - 2014-10-22 14:24:53
Kuwait Energy and their main partner, the Egyptian General Petroleum Corporation (EGPC), announce Wednesday that the operated exploration well ASA-1 st3 on the Abu Sennan license, onshore Egypt discovered hydrocarbons in the Abu Roash" E" and Abu Roash " C" formations. The ASA-1 st3 licensees are Kuwait Energy 50% (operator), Dover 28% and Beach Energy 22%. According to a statement released by Kuwait Energy, the well was tested successfully over the Abu Roash "E" and Abu Roash "C " reservoirs, with flow rates achieved of 1,604 bopd and 2,164 bopd respectively. This is the seventh exploration success in the Abu Sennan concession and the twenty third discovery in Egypt for Kuwait Energy since 2008. On the development front, the Company has successfully completed the appraisal of the El Salmiya-6 well. The test results from the primary target, Kharita Sandstone, are 2,750 bopd and 9.7 MMscfd of gas on ¾" choke. In this respect, Sara Akbar, CEO of Kuwait Energy , said: "I am delighted to announce yet another discovery for Kuwait Energy at Abu Sennan. Egypt continues to be a flourishing region for us and this exploration success has the potential to add to our reserves and daily production levels." Kuwait Energy is an independent oil and gas exploration and production company operating in the MENA region; and As at 31 May 2014, Kuwait Energy 's working interest proven and probable reserves were 165.7 million barrels of oil equivalent and its current production has reached approximately 25,069 barrels of oil equivalent per day as at 30 June 2014. More»
Sanaa Allam - 2014-10-22 12:53:34
Asfour Cyrstal, the world's largest producer of full-lead crystals, has seized 52% of Egypt’s glass exports, during the period from January to August 2014. In 8 months, the company registered exports amounting to 369.4 million Egyptian pounds (US$51.6 million). According to Chemicals and Fertilizers Export Council (CEC)’s latest report, Egypt’s exports of glass products fell 4% by end of last August, to 901 million pounds, versus 942.6 million pounds for the same comparable period a year earlier. Coming second to the list of Egypt’s top ten glass exports during the last 8 months, Misr Glass Manufacturing Company-MGM registered total exports amounting to 89.4 million Egyptian pounds. Al Alamia for Glass Manufacture ranked third, attaining total exports worth 52.7 million Egyptian pounds. Fourth, Middle East Glass Manufacturing Company (MEG) acquired exports at value of 44.2 million Egyptian pounds. New City Glass Group came in the fifth position, with total exports worth 42.6 million Egyptian pounds. Egyptian Company for Modern Glass - Techno Glass seized 34.3 million Egyptian pounds in exports. CEC’s report further stated that Egypt’s top export markets worldwide from January-August 2014 are; UAE (EGP 110.2 million), China (EGP 85.1 million), Lebanon (EGP 80.3 million), and Sudan (EGP 70.4 million). More»
Enas Shaaban - 2014-10-22 10:39:36
US largest construction and engineering company, Bechtel Group has expressed keenness to finance Egypt’s logistics centre and global trading city projects, said Egyptian supply minister Khaled Hanafy. Egypt is planning to establish a key logistics centre alongside a global city for trading, with investments estimated at 53.1 billion Egyptian pounds (US$7.4 billion). The Egyptian minister further referred that the Internal Trade Development Authority (ITDA) has outlined its final vision about the global trading city, which would be built with investments worth 40 billion Egyptian pounds. For the global logistics centre for grain handling, it is set to be established in Damietta governorate, to transform Egypt into an international hub for storing and trading grains, at total cost of 13.1 billion pounds. Bechtel has offered to finance all the national projects in Egypt whether through providing direct cash loans or funding the purchase of what the projects need in accordance with facilitated conditions, the Egyptian minister noted.Bechtel Corporation (Bechtel Group) is the largest construction and engineering company in the United States, ranking as the 4th-largest privately owned company in the United States. Its headquarters are in the South of Market, San Francisco. More»
Amwal Al Ghad English - 2014-10-22 09:03:10
The government has decided to present the construction plan for a train linking 6th of October City to Cairo at the economic summit scheduled for February in Sharm El-Sheikh, according to cabinet spokesperson Hossam El-Qaweesh. Egypt is preparing for an economic summit, called for by the King of Saudi Arabia Abdullah bin Abdul Aziz after President Abdel Fattah Al-Sisi took office. The aim of the summit is to reassure investors and attract investments by presenting a package of new projects. El-Qaweesh said that “a global company presented a comprehensive offer to the Egyptian government to implement the projects,” but refused to give its name. He said that the company has similar projects in Saudi Arabia, UAE, and other countries including Brazil. “The company estimated the cost of the project to be approximately $1.5bn,” and the train project will be a monorail line, El-Qaweesh added. The government is seeking to present several mega-projects to local and international investors during the economic summit, including the Suez Canal Axis Development, the Golden Triangle, and Northwest Sahel projects, in addition to transportation and energy projects that the state is currently planning. According to a cabinet press release, Prime Minister Ibrahim Mahlab held a meeting with the ministers of housing and transport, and Cabinet Advisor on Transportation and Tunnels Hany Azer, as well as a number of representatives of international and Egyptian companies in order to study the project. Officials from the global company said that the train represents a modern solution for solving crowding issues within cities, stressing that consumers will be satisfied with the project due to its environmental-friendliness, reduced noise emissions, and conformance with architectural surroundings. In addition, the project is easy to construct and includes top amenities, as well techniques to use energy efficiently. The officials explained that the project will operate completely automatically. Company officials expect the train line to reach a maximum speed of 80km / hour and extend 26km between 6th of October City to Imbaba station. The line will have the capacity to transport 1 million passengers per day, with an average train arrival every minute and a half. Mahlab called on relevant ministers to study different financing models for the project so as to ensure it is constructed in accordance with international standards at the lowest possible cost after thanking the company for its offer. More»
Amwal Al Ghad English - 2014-10-22 08:40:58
An Israeli firm will supply Egypt with natural gas, a company spokesman said Monday, more than two years after sabotage halted the flow of Egyptian gas to Israel. For more than a decade Israel relied on Egypt for roughly 40 percent of its gas needs in line with an export accord signed in 2005 by the two countries which are bound by a peace treaty. But in April 2012 Egypt annulled the contract, saying Israel had not met the financial obligations of the agreement, in a decision that came amid a spate of bomb attacks that targeted the pipeline used to transport natural gas to Israel and Jordan. On Sunday the Israeli owners of the Tamar offshore gas field informed the Tel Aviv stock exchange they had struck a deal to export natural gas to the Egyptian firm Dolphinus Holdings. A statement said Tamar was in "exclusive negotiations" with Dolphinus Holdings to provide it with up to 2.5 billion cubic metres (bcm) over a seven-year span. Dolphinus Holdings "represents a consortium of large non-governmental industrial and commercial Egyptian gas customers," according to Tamar. The natural gas would be transported to Egypt through the same East Mediterranean Gas pipeline used by Cairo to export gas to Israel and Jordan before it was attacked and crippled the saboteurs. Experts estimate the deal to be worth over $4 billion (3.13 billion euros). Tamar holds 250 bcm of natural gas, and lies 80 kilometers (43 nautical miles) west of the northern Israeli port city of Haifa. US giant Noble Energy owns 36 percent of Tamar, with four other Israeli partners holding smaller shares. Tamar's discovery, along with the twice-as-large Leviathan gas field, shifted Israel from costly and unreliable imports to a growing self-sufficiency and the potential to become an energy exporter. Several months ago, the Israeli government approved a new plan allowing up to 40% of what it extracts from the gas fields to be exported. Prime Minister Binyamin Netanyahu has said exports would bring in some $60 billion to state coffers over the next 20 years; Israel's natural gas finds are expected to sharply reduce its dependence on imports. Last month, Noble and its partners signed a letter of intent to supply Jordan's National Electric Power Company Ltd with 487 bcm of natural gas from Leviathan over 15 years. The move was met with opposition from 40 Jordanian MPs. Egypt's gas contract with Israel was the largest trade deal between the two former foes who signed a peace treaty in 1979, with the first exports launched in 2008. It also marks a resurgence in cooperation between the two countries, which saw a souring of relations during the brief rule of the Muslim Brotherhood during 2012, but has recently turned back around after Islamist president Mohamed Morsi's ouster. Egypt and Israel have already cooperated on security issues, both regarding terror from Hamas and a rise in Islamism in the Sinai desert. More»
Amr Abdel Ghaffar - 2014-10-21 15:15:06
The world’s largest chain of hamburger fast food restaurants, McDonald’s Corporation asserts its intention to double its investments in Egypt and provide more than 10.000 new job opportunities in the coming six years. The corporation is planning to increase its network of branches in Egypt to 170 by 2020, with investments amounting to one billion Egyptian pounds (US$140 million approximately). Speaking to Amwal Al Ghad on Tuesday, McDonald’s Egypt General Manager Alaa Fathy referred to the growing year by year demand for the restaurant’s products and services since its inception in 1994. Accordingly, this drives McDonald’s Egypt to adopt its new ambitious expansion strategy based on opening more branches, notably in new areas in the Upper Egypt and Nile Delta governorates, to reach 170 by 2020. McDonald’s Egypt currently has around 82 branches, including two branches in Assiut and Aswan governorates, Fathy noted. McDonald’s Corporation pumped investments worth around EGP 800 million in the Egypt during the previous years, and is currently in the process to implement its expansion plan to  inject more than EGP one billion in the coming six years. This means the launch of 100% more branches than those inaugurated in the last twenty years, signalling a greater support for the Egyptian economy through creating more job opportunities to push the wheel of development forward. More»
Amwal Al Ghad English - 2014-10-21 13:02:27
Egyptian Chemical Industries (Kima) (EGCH.CA) said on Tuesday Italy’s Maire Tecnimont is not planning for international arbitration. Kima’s Chairman Eid Mohammed Abdullah stated that Tecnimont threatened to resort to arbitration after it faced bank hurdles in the last three years. However, the Egyptian government interfered and contacted the banks and the Italian embassy until the problem was over. Kima added that it recently announced the disbursement of the down payment to the Italian firm in US dollars and Egyptian pounds. The company will offer bids to international companies to execute the project of rehabilitating of the end sections in the factory which will be operational at the same time of the of Ammonia and Urea plant. More»
Hesham Ibrahim - 2014-10-21 12:00:50
A coalition consisting of Egypt’s ElSewedy Electric and Arab Contractors is bidding to carry out a power station project in Iraq’s Samawah city. ElSewedy’s Vice President Wael Hamdy spoke to Amwal Al Ghad on Tuesday, announcing a new alliance with Arab Contractors, so as to start work on the Samawah power station project in the coming period if granted approval by the Iraqi government. The Egyptian official referred that the ElSewedy-Arab Contractors alliance is competing against Korean, Turkish and Greek consortia over winning the Iraqi power project. However, the Iraqi government had not yet set the date of announcing the winning consortium in the light of the current security instability in Iraq, he added. With undetermined investment cost yet, the Samawah power station project is set to be with a capacity of 750 MW, Hamdy noted. Meanwhile, ElSewedy is currently implementing, in coalition with Arab Contractors, another project in Iraq, the Diwaniyah power station, with a capacity of 500 MW. More»
Mahmoud Shaaban - 2014-10-21 09:27:43
Egypt’s Oil Minister Sherif Ismael signed an agreement Tuesday with Tharwa Petroleum for oil and gas explorations in Abu Snan located in Western Desert, with minimum investments of US$15 million. This comes in addition to a grant of US$5 million to dig four wells. The agreement was signed by the Egyptian minister alongside Eng. Tareq Al-Mula - President of the Egypt General Petroleum Corporation (EGPC), and Raafat El Beltagy – Chairamn of Tharwa Petroleum Company. Minister Ismael said the agreement will motivate national companies operating in exploration to increase its activity and contribution in the petroleum sector in light of the promising opportunities in the Egyptian petroleum regions. More»
Amwal Al Ghad English - 2014-10-21 08:35:28
Addressing the issue of importing gas from Israel, Ministry of Petroleum’s spokesperson Hamdy Abdel Aziz explained in a Sunday statement that no agreement has been signed yet. Abdel Aziz stressed that any agreement will not be reached without the approval of the Egyptian authorities, noting that the ministry did not receive any letters for approval yet. “The ministry considers projects that achieve the national interests of Egypt and a high added-value to the economy,” Abdel Aziz added. A non-binding Letter of Intent was signed on 17 October between the Tamar Partners and Dolphinus Holdings Limited, which confirms the intention of the involved parties to carry out negotiations on the natural gas supply from the field to Egypt, Israeli energy company Delek said in a Sunday statement. The company added that the gas supply will be of 250,000 MMBtu (One million British Thermal Unit) over a period of seven years, on an interruptible basis of quantities of surplus gas from the Tamar field. The transferred gas, to be purchased by the buyers, will be supplied to industrial consumers in Egypt, according to Delek. Gas quantities will delivered to Egypt through the Egyptian-Israeli East Mediterranean Gas (EMG) pipelines, constructed a decade ago to transfer Egyptian gas to Israel. Mubarak-era business tycoon Hussein Salem, currently in Spain, owns shares in EMG and is a defendant in a number of cases regarding profiteering and seizing public funds. Israeli gas buyer, Dolphinus Holdings Limited, represents a consortium of major of Egyptian non-governmental gas consumers and distributors headed by businessman Alaa Arafa, Delek said. In the same regard, Minister of Petroleum Sherif Ismail told the Daily News Egypt in July that the ministry does not mind allowing British BG Group to import gas from Israel, noting that the British company has only signed a letter of intent as an initial agreement to start negotiating with partners in the Leviathan gas field to import natural gas from Israel to a BG Group liquefaction plant in Idku, Egypt. In 2005, a 20-year deal was signed allowing the delivery of Egyptian gas to Israel and was said to have provided 40% of Israel’s natural gas. However, the deal was terminated by Egyptian authorities in 2012. More»