amwalalghad :: Industry & Trade

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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        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        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        Raya Holding For Technology An   4.57        United Housing & Development   8.93        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        Six of October Development & I   15.03        National Development Bank   6.72        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        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        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        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

Ahmed Fayez - 2014-09-30 14:46:50
Egyptian Prime Minister Ibrahim Mahlab has met on Tuesday Dr. Sultan Ahmed Al Jaber Minister of state in the United Arab Emirates and the officials of UAE-based Al Dahra Agriculture which has several various investment projects across Egypt. Mahlab asserted that Egypt is responsible for solving all the dilemmas which facing investors and improving the country's investment climate in general. Mahlab has contacted some ministers to remove the obstacles which faced by UAE-based Al Dahra in its different projects. Al Dahra's Vice Chairman & Managing Director H. E. Khadim Al Darei and CEO of Al Dahra-Egypt Sulaiman Al Nuaimi have invited Mahlab to visit Dahra's agriculture projects in Toshka and Sharq Al-Owainat especially it has 100.000 feddan in Toshka and it was pumped investments totaled EGP750 million for Toshka's  infrastructure. More»
Amwal Al Ghad English - 2014-09-30 13:07:19
Egypt seeks to repay by end of this year around US$2-3 billion of its total debts to foreign oil companies working in Egyptian market, the country’s oil minister Sherif Ismail said. Egypt currently owes around $5.9 billion to foreign producers for oil and gas they sell to the government for use domestically. During a press conference on Tuesday, the Egyptian minister stated that his country will pay off some of its debts to the foreign oil companies in the coming few days. Furthermore, Ismail noted that the Egyptian government will launch a tender after Eid Al-Adha vacation, seeking to borrow from international banks in order to repay the debts owed to foreign oil companies operating in the country. Egypt plans to pay back some of its ballooning debt to international energy companies in a bid to revive confidence in its flagging hydrocarbon sector and boost production. Since 2011 uprising, Egypt has been in an energy crisis, most evident in frequent electricity blackouts. Several government officials have attributed the power cuts to fuel shortage and declining gas production. More»
Mahmoud Shaban, Sayed Badr, Marwa Himdan - 2014-09-30 12:55:42
Egyptian Investment Minister Ashraf Salman revealed that the government is aiming to allure investments worth US$8 billion in electricity sector within the upcoming year and half. Salman added in a conference on Tuesday that the government is targeting to attain 6% growth rates in GDP and to reduce unemployment rates in addition to declining the public debts of domestic result to 75-80% by the end of the fiscal year 2018/2019. The government  has adopted economic programme that based on 3 axes including structural reform of the state's public budget, Legislative reform and development projects, Salman noted. Furthermore, he asserted that the government is totally dependent on the public sector to pump investments in the country as the targeted investment volume ups to EGP330 billion in the ongoing year including EGP60 billion for government and EGP230 billion for private sector. More»
Amwal Al Ghad English - 2014-09-30 09:31:44
Egypt's largest oil refinery hopes a planned expansion will allow it to export after years of production being diverted to the domestic market, the company's chairman said in an interview at the Midor refinery. Mohamed Abdel Aziz said the refinery would increase capacity to 160,000 barrels per day by end-2017 from 100,000 barrels now. That would allow Midor, which provides a quarter of the country's petroleum product needs, to help Egypt face a growing energy crisis and eventually export, he said. "Midor wants to increase production to meet Egypt's energy requirements and have the capacity to be able to refine for others," Abdel Aziz said. Egypt has struggled with soaring energy bills caused by high subsidies it provides on fuel for its population of 85 million. President Abdel Fattah el-Sisi's government raised fuel prices by up to 78 percent this summer. But the subsidies will still weigh on the budget and foreign energy firms remain wary about investing in a country that has decided over the past year to divert most energy earmarked for export to the power-hungry domestic market. Before the 2011 revolution that ousted Hosni Mubarak and unleashed three years of political and economic turmoil, the Midor refinery refined petroleum products for Shell, Vitol and others, Abdel Aziz said. "But since the revolution, all of our production has gone to the local market." The expansion at the refinery, which is owned by Egypt's main state-run oil company, is expected to cost about $1.2 billion with 40 percent of it self-financed and the rest coming from banks. "We are studying contracts with three international companies for refining on their behalf," Abdel Aziz said. "We began negotiating in May with Sudan on refining a million barrels per month at a price of $8 a barrel." Midor's profit fell to $98 million in 2013 from $112 million in 2012. Abdel Aziz expected profit to fall again in 2014 due to lower prices for oil and petroleum products. More»
Sanaa Allam - 2014-09-29 13:32:03
Egypt's Badr Investors Association (BIA) chairman Alaa El-Sakty revealed that the Association requested from Industrial Development Authority(IDA) to allocate plot with an area of 400 feddan in Badr city to establish solar power with investments around EGP4 billion. The project comes among the acts of the Holding company for developing the city that has recently launched by BIA with EGP200 million initial capital, stressing that the plant will generate capacity up to 300 MW. In statements to Amwal Al Ghad on Monday, El-Sakty noted that it takes one year and half to start operating the plant. In the last year, the government announced new tariff for the purchase of power from the private sector, and identified 82 piasters per kilowatt of wind power and 1.02 pound per kilowatt of solar energy. Furthermore, new tariff will meet with demands from investors and encourage more new investments.
Amwal Al Ghad English - 2014-09-29 09:38:06
Saudi Arabia allocated SR252 billion ($67.2 billion) in aid to foreign countries between 1990 and 2014, according to a financial report. Saudis gave SR85 billion ($22.7 billion) in aid to nine Arab countries, namely Egypt, Yemen, Jordan, Bahrain, Oman, Palestine, Morocco, Sudan, and Djibouti, between 2011-2014, said the report. According to the report, however, only SR40.8 billion ($10.9 billion) actually reached those countries. Egypt captured the lion's share of Saudi actual aid, at SR22.3 billion ($5.9 billion), or 55 percent, followed by Jordan, at SR7.2 billion ($1.9 billion), or 17 percent, the report said. Egypt also topped the list, having received the biggest portion of money allocated by the Saudi government, at SR24.4 billion, or 29 percent of the total sum of aid. This is followed by Yemen, which received SR14.3 billion, Jordan (SR11.2 billion), Bahrain (SR10.7 billion), Oman at SR9.4 billion, Palestine (SR 6.7 billion), Morocco (SR6.2 billion), Sudan (SR2 billion), and Djibouti (SR255 million). Meanwhile, Yemen was the third largest recipient of Saudi actual aid after Egypt and Jordan in the last three years, having received SR4.4 billion, followed by Palestine (SR3.9 billion), Morocco (SR1.8 billion), Sudan (SR900 million), Bahrain (SR259 million) and Djibouti (SR68 million). More»
Amwal Al Ghad English - 2014-09-29 09:28:33
A new state-owned ethylene factory due to start production in Alexandria next year could save Egypt about $500 million on annual imports and allow it to begin exporting petrochemicals to Western Europe and Africa, its chairman said. The factory, operated by Egyptian Ethylene and Derivatives Company (ETHYDCO), a joint venture formed by three state-run petrochemical companies, should produce enough to cover up to 45 percent of local demand for ethylene and other petrochemicals needed to manufacture plastics, rubber and glass, chairman Abdel Rahman Zeid said. "We will direct 70 percent of production to the local market to acquire between 40 and 45 percent of the market," he told Reuters in an interview. The company would export the remaining 30 percent to cover dollar needs, he said. Zeid said the project was 71 percent complete and would begin production in the last quarter of 2015. Egypt's oil minister has been quoted in the media as saying a shortage in gas supplies has slowed down petrochemicals projects in the country. In an interview with Reuters he said that the government plans to invest $14.5 billion in developing its refining and petrochemicals sectors over the next five years. During a recent visit, the 175-feedan site in western Alexandria, Egypt's second-largest city, was busy with engineers and labourers rushing to complete the project. ETHYDCO is a $1.9 billion joint venture set up in 2011 by four banks and three state-run energy companies: Sidi Kerir Petrochemicals, the Egyptian Petrochemicals Holding Company (ECHEM) and gas transport firm Gasco. Egypt needs around 500,000 tons of ethylene annually. Sidi Kerir is said to be the largest producer of petrochemicals in the country. Zeid said the new factory would produce 460,000 tons of ethylene annually and 400,000 tons of high- and low-density polyethylene. "For the first time in Egypt we will produce about 20,000 tons of butadiene annually and 36,000 tons of polybutadiene," he said. Butadiene derivatives are used in products ranging from car tires to golf balls. Zeid said he expects to cover initial investment costs, a mix of bank loans and self-funding, within 10 years after production begins. More»
Amwal Al Ghad English - 2014-09-29 09:16:02
French oil company Total has been awarded a licence to explore for natural gas in the Nile Delta, a source in the state-run Egyptian Natural Gas Holding company (EGAS) said on Monday. "France's Total won the bid to explore in Sector 2 in the Delta region," the source told Reuters on condition of anonymity. The Egyptian General Petroleum Corporation (EGPC) and EGAS announced an international tender for oil and gas drilling concessions last December. More»
Amwal Al Ghad English - 2014-09-29 08:26:35
Egypt plans to invest $14.5 billion in developing its refining and petrochemicals sectors over the next five years, its oil minister said, as part of efforts to overcome an energy crisis that has led to near-daily power cuts and hit company profits. It is also considering floating stakes in some state-owned oil companies on the Egyptian stock exchange. Sherif Ismail told Reuters in an interview that Egypt was trying to boost its output of refined oil products by 5-10 percent each year, hoping to reduce its dependence on costly imports. "Total investments that will be implemented over the next five years will be around $14.5 billion and include $12.5 billion in the refining sector and $1.9 billion in the ETHYDCO project," Ismail said, referring to a new complex that will produce ethylene and other petrochemicals. Egypt has struggled to curb its swelling budget deficit whilst meeting soaring energy demands, resulting in daily electricity cuts around the country of 86 million people. More»
Amwal Al Ghad English - 2014-09-29 08:20:46
United Arab Emirates energy firm Dana Gas said on Monday that it had been awarded exploration deals for two onshore gas blocks in Egypt. The company will operate the North El Salhiya onshore concession area, known as Block 1 and will partner with British company BP to explore El Matariya, Block 3, on a 50:50 ownership basis, it said in a statement. “Under the terms of the agreement, BP will fund all of the cost, including Dana Gas’s share, of one exploration well up to an agreed maximum limit,” Dana said. If the well proves commercial, BP will have the option to buy up to 50 percent stakes in Dana Gas’ adjacent development leases, it said. Block 1 is an extension of Dana Gas’ existing conventional gas production business in Egypt, the company said. The new deals are part of the 2014 EGAS bidding round held late last year in Egypt. More»