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Military Production & "Al-Gharbia" Sign a Cooperation Agreement to Implement Development Projects in the Governorate

Eng. Mohamed Ahmed Morsi, Minister of State for Military Production, and Dr. Tariq Rahmi, Governor of Gharbia, witnessed the signing ceremony of two cooperation contracts between the Military Production Company for Projects, Engineering Consultations and General Supplies and the Gharbia Governorate. The two contracts were signed by Dr. Ahmed Atta, Deputy of  Gharbia Governor, and Eng. Majed Al Sarti, Chairman & CEO of the Military Production Company for Projects and Engineering Consultations at the headquarters of the Ministry of Military Production's General Office, to implement a number of development projects in Gharbia Governorate. He added that this signature comes in light of the cooperation protocol signed last March between the National Authority for Military Production and the Gharbia Governorate, with a view to maximizing the economic, social and investment benefits of some lands that fall within the scope of the geographical space of  Gharbia Governorate, and developing them to establish many investment and development projects.   The Minister of  Military Production added that within the framework of the signing of these two contracts, an investment project consisting of a hotel and restaurants complex in the "Old Traffic" land would be established, marketed and run, and another investment project would be established on the "Beau Rivage Land" consisting of a three-storey underground garage, a commercial...

2020-12-17 15:23:08

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Minister of Communications and his Congolese counterpart discuss cooperation in digital transformation, ICT infrastructure and postal services

Minister of Communications and Information Technology Amr Talaat met with Minister of Post, Communications and New Information and Communication Technologies of the Democratic Republic of the Congo, Augustin Maliba, at the head of a high-level delegation. The aim was to discuss strengthening cooperation between Egypt and the Congo in a number of areas of information and communication technology, most notably digital transformation, capacity building, technological innovation, entrepreneurship and postal services. During the meeting, Talat stressed the importance of accelerating the achievement of digital transformation in the two countries, given the tremendous development and economic opportunities it provides. He referred to the pillars of cooperation between the two countries in the field of communications and information technology, within the framework of friendly relations between them, including cooperation in capacity building, training, transfer of the Egyptian experience and technologies, and providing expertise to our brothers in the Congo. He added that this is in addition to cooperation in digital transformation projects, provision of digital government services and information and communication technology infrastructure. The Congolese minister affirmed the close relations between Egypt and the Congo, adding that there are joint cooperation projects in the field of communications and information technology that could be implemented in the short term....

2020-12-17 11:28:07

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Environment forms a committee to study investment applications in four nature reserves

An official source in the Ministry of Environment confirmed that a specialized committee has been formed to study the offers of companies that applied to establish recreational and service projects and restaurants in nature reserves in the central region, they are: The Reserve of the Fossilforest, Wadi djala in Cairo, Wadi Al-Rayyan, and Qaron in Fayoum. He added that the best technical and financial offers will be selected to maximize the economic value of the project, and achieve investment returns while preserving the protected natural, with commitment to environmentally friendly service projects and the revitalization of ecotourism in the coming period, the winning companies are expected to be announced soon. It is noteworthy that the Ministry of Environment has closed the door to apply for investment in 4 nature reserves in the central region, Last November 25th, as a first stage, to spread the experience to all 30 nature reserves. It is noteworthy that the Ministry of Environment aims, through the investment project, to provide services to visitors. Explaining that every company that wishes to apply for inter-developmental activities in the four reserves submits an integrated development proposal “technical, financial and economic. He added that the plan aims to create a cycling walk, traditional Bedouin-style restaurants, and a handicraft center to achieve a comprehensive and sustainable development of the environment, and to preserve nation...

2021-01-04 15:34:53

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Aton Holding acquires Pharos for portfolio formation and asset management

Eng. Mahmoud Lashin, Vice Chairman of "Aton Holding" for Financial Investments, revealed that it had acquired the "Pharos Asset Management" company as the company's first investment operation in the local market. «Aton Holding» is a financial investment company newly established in the local market four months ago, and subject to the rules and laws regulating the General Authority for Financial Supervision, and its board of directors is chaired by businessman Tamer Wageh, and a number of Egyptian investors, including Mahmoud Lasheen, Vice Chairman,  Mustafa Attia, Hazem El-Far, and Hashem Ghoneim. Lashin said that the acquisition of "Pharos Asset Management" took place only two weeks ago, explaining that the Pharos Fund Company, the owner of the Pharos Fund I designated for investing in shares in the local market, was also acquired. He refused to disclose the value of the deal due to the agreements signed with the seller. The transaction marks the first for Aton, which plans to raise Pharos Fund I's assets under management (AUM) to EGP 500 mn in one year before hitting EGP 2 bn in 2022. He added that Aton has already added over EGP 120 mn to the asset management firm's portfolio following the acquisition. He pointed out that one of the reasons for this increase was the participation of "Pharos" in managing the shares of Arab and foreign investors in the "Al-Safwa Specialized Hospital"...

2021-03-03 09:48:42

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Egypt will establish the first factory for the production of railways

Minister of Transport, Kamel El-Wazir, said that coordination is underway with companies specialized in the iron and steel industry to establish a factory for the production of railways in Egypt to settle this industry, provide hard currency and create new job opportunities. He added that the implementation of the first factory for the production of railways in Egypt has already started, and it is planned that the rails will be produced in this factory within 24 months. He pointed out that coordination is underway with the Russian-Hungarian Transmach Holding Company to establish a new main workshop for the repair, maintenance and development of vehicles, and a long-term maintenance contract with the company to maintain these vehicles continuously, in a manner that guarantees the transfer of expertise to the Egyptian side. The minister confirmed that, in light of the political leadership’s directives, this achievement comes through developing a set of flexible, comprehensive and advanced policies, foremost of which is providing the highest levels of safety and security on transport networks and expanding transportation means to link Egypt with its regional and international surroundings, indicating the aspiration to upgrade investment and technical cooperation with both Russia and Hungary.  The Russian-Hungarian 1300 carriage deal includes the supply of 800 air-conditioned cars (500 third-class air-conditioned vehicles, a new service that is offered...

2021-03-03 09:49:25

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