The Prime Minister of Egypt, Dr. Mostafa Madbouly, described the transportation network in Egypt as a "development vessel", reviewing the country's achievements in the file of transportation networks development and modernization over the past six years, explaining that Egypt was ranked the 118th in the world in the road quality index. Through years of work and development, it has ranked up 90 places, and is now the 28th in the world. The state announced that the goal this time of developing the national road network and the transportation sector in general is not only to reduce densities within cities, but Egypt is preparing for a more ambitious plan that transfers development from eastern to western Egypt, to serve the national urban development plan for Egypt until the year of 2052, which aims to double The urban area of Egypt, a plan that needed vessels for development, as described by the Prime Minister Egypt exceeded the implementation rates in a record, so what was scheduled to be completed in the year of 2027 as the first stage of the road development plan until the year of 2052, is about to be completed a few years after the beginning of implementation, and the state was actually able to plan and implement 7 thousand kilometers of new or upgraded roads, and the total of investments that are being implemented on the ground are 950 Billion EGP (Almost one trillion EGP), of which the state has already spent...
2020-11-05 13:05:49
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
A source in the Ministry of Electricity confirmed that Egypt's production of electricity generated from bioenergy reached 12 Megawatts. He also added that The Government is currently considering increasing electricity generation from those sources to 20 Megawatts over the coming years, while promoting investment in it, following the announcement of the tariff for purchasing energy produced from waste. He confirmed the existence of projects to generate electricity from bioenergy, with a capacity of up to 6 Megawatts in the coming years, with investments of up to 250 million EGP. He noted that some projects are allocated to the private sector with a total capacity of up to 51 Megawatts. Distribution companies will purchase the energy produced from electricity generation projects, especially since bioenergy is one of Egypt's electricity production sources, the majority of which is produced at the El-Gabal El-Asfar Station. Remembering that Egypt's production of renewable energy by the end of 2019 has risen vigorously to registered 6,000 Megawatts equivalent to 11% of the total electricity production, which reached 55,000 Megawatts, and Egypt's renewable energy production has risen by 2000 Megawatts during 2019, Hydropower has acquired the lion’s share and registered 2,835 Megawatts, followed by solar power that reached 1,740 Megawatts, while wind power registered 1,375 Megawatts. The Ministry of Electric...
2020-12-17 15:39:07
In a speech before the joint economic and commercial forum between Egypt and Iraq, Nivine Gamea, Egyptian Minister of Trade and Industry, expressed her happiness in the presence of a large number of representatives of the private sector, major companies and federations of commerce chambers in the two countries in this important forum, as the two governments in Egypt and Iraq seek to strengthen and boost the bilateral trade and economic relations between the two countries in the stage of reconstruction. She emphasized that this defining stage requires bilateral cooperation between Arab countries and the activation of this cooperation through initiatives and support for the private sector. The minister indicated that the volume of Egyptian exports to Iraq increased during 2019, pointing out that the next phase will witness more cooperation between the two countries and an increase in the rates of trade exchange between the two countries, noting at the same time that there are many service projects that the Egyptian government can contribute to, and the vital role of the private sector in this regard. On the other hand, Dr. Alaa Ahmed, the Iraqi Minister of Trade, stressed the importance of this forum, which represents the two governments and the private sector in the two countries, in a unified forum that organizes trade relations, which will lead up to promoting trade and stimulating investments between the two countries. The Iraqi Minister of...
2020-12-17 15:50:11
Within the framework of the comprehensive vision to complete the infrastructure for the development and reconstruction of the Sinai Peninsula to achieve comprehensive development, protect the Egyptian national security, implement many urban and agricultural expansions and carry out seawater desalination plants to primarily serve the citizens of the Sinai Peninsula, it was decided to connect several areas in the North Sinai Peninsula governorate to the unified electrical network with the possibility of increasing the required capacity to feed the city of Al-Arish and raising the efficiency of Al-Wahshi station. The Egyptian Electricity Transmission Company has signed the following contracts with the National Service Projects Organization of the Armed Forces (the National Company for General Contracting and Supplies) : A contract for the construction of the Al-Masaeed transformer station, voltage 220/66/22 KV, capacity (2 x 175 + 2 x 40 MVA) of the GIS isolated type, including transformers with a value equivalent to (L.E, 396.52 million),and an implementation period of 14 months from the date of receiving the site. The contract for the implementation of the construction of the Sheikh Zuweid transformer station, 66/22 KV effort: the contract for the construction of the Sheikh Zuweid transformer station, 66/22 kV, capacity (4 x 40 MVA) of the GIS isolated type, including the transformers of a value equivalent to (L.E. 225 million) and an implementation period of 12 months f...
2020-11-12 14:52:07
The Minister of Transport, Lieutenant General Kamel Al-Wazir, said that there are a number of promising investment opportunities provided by the Ministry of Transport, indicating that a number of rail transport projects have been identified in which it is possible to cooperate with investors to implement them based on BOT model (Build - Operate- Transfer the project to state ownership). The Minister of Transport pointed out that one of the most important projects is the rehabilitation of the Abu Tartour - Qena - Safaga - Hurghada railway, and the construction of the Rubiki - the 10th Ramadan - Belbeis railway and linking it with the dry port in the tenth of Ramadan. He spotted much light on the construction of the sixth metro line - Maadi – Al-Khosous, and the construction of the Aswan - Toshka railway line and extending it to Wadi Halfa in Sudan, the construction of the Al-Fardan railway - Bir Al-Abd - Al-Arish - Rafah, passing through the Suez Canal Economic Zone, and extending it in the future to Taba, and finally the construction of Marsa Matrouh - Gargoub port rail line, the construction of the Marsa Matrouh – Siwa rail line and the extension of the Matrouh - Salloum line to the city of Benghazi in Libya. The minister clarified that in light of the great interest of the Egyptian state to benefit from the maritime transport system to increase the gross national product (GNP), a number of projects have been identified that can be coop...
2020-11-12 16:04:41
A ministerial report clarified that the urban development sector’s share in Egypt’s gross domestic product (GDP) at constant prices is expected to reach about EGP 706 billion during 2020/2021 Egypt’s Minister of Planning and Economic Development, Hala El-Said announced that the government targets to inject about EGP 136.4 billion, representing 18.5 percent of the country’s total investment plan for FY2020/2021, in the urban development sector. In a statement issued on Thursday, the minister clarified that these investments are split into three parts, including real estate activities that constitute the largest part at a rate of 45.6 per cent (EGP 62.1 billion), while 28.5 per cent of investment (EGP 38.9 billion) is allocated to construction works, and 25.9 per cent (EGP 35.3 billion) is directed to water and sanitation projects. A ministerial report clarified that the urban development sector’s share in Egypt’s gross domestic product (GDP) at constant prices is expected to reach about EGP 706 billion during 2020/2021, with a growth rate of 4.7 per cent over 2019. The sector’s share of GDP involves the water and sanitation sector that targets achieving about EGP 23 billion, the construction works that targets achieving about EGP 269.4 billion in FY2020/2021, up from EGP 253.1 billion in FY2019/2020 , and the real estate activities that expects to attain EGP 413.3 billion output, up from EGP 398.6 billion in FY2019/202...
2020-11-12 16:59:08
Counselor Mohamed Abdel-Wahab, CEO of the General Authority for Investment and Free Zones (GAFI), held a meeting with Ambassador Mohamed Elias, Ambassador of the Republic of Sudan in Egypt, to discuss aspects of cooperation to increase mutual investments between the two countries. (GAFI) CEO stressed the consensus of visions on areas of common interest between the two sides, including encouraging businessmen communities in the two countries to establish joint development projects in Egypt and Sudan in a way that would contribute to increasing the volume of Egyptian investments in Sudan. The meeting witnessed the two sides' agreement that the Investment Authority would provide technical support to the Sudanese side in the field of preparing and promoting investment opportunities and preparing the legislative environment in Sudan, as well as reviewing priority investment opportunities for the Sudanese side in the fields of agriculture, manufacturing industries, medicines, animal production, sugar industry, and real estate development. The ambassador of the Republic of Sudan praised the brotherly relations between the two countries, stressing the importance of increasing cooperation in all fields to meet the aspirations of the two brotherly countries. He also welcomed the investment authority's support for Sudanese investments in Egypt and the technical assistance provided by the authority to facilitate the investment climate in Sudan.
2020-11-19 15:25:46
Agreement on financing a number of infrastructure projects in the field of transport worth € 1,128 billion: LTG Eng. Kamel El-Wazir - Minister of Transport, met with officials of the European Investment Bank (via video conference) to discuss cooperation in various transportation fields. The meeting was attended by the head of the Railways Authority, the leaders of the Ministry of Transport and the National Authority for Tunnels. At the beginning of the meeting, the minister praised the fruitful cooperation between the two sides in the field of environmentally friendly electric traction projects that contribute to the daily movement of millions of citizens, referring to the ongoing investment cooperation with the bank, worth € 600 million in the implementation of the third phase of the Underground third line out of a total of € 939.2 million euros + EGP 9525.4 million (value of the implementation phase), as well as the investment cooperation with the bank with a value of € 350 million in the first line development works, the total cost of which is (751 million Euros). The negotiations revolved around the governmental agreement for the financing of the urban transport infrastructure projects to be signed with the bank at a value of 1,128 billion euros to finance a number of projects, namely (the project of rehabilitation of the Raml Tram in Alexandria at a value of €138 million, the electrification project of the Abu Qir /...
2020-11-22 13:55:10
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
The company “German-Lebanese " for the manufacture of GLC paints launches Color Trends conference 2021، Which focuses on 24 new colors by the most prominent architects and designers in Egypt and the Arab region. The company confirmed in a statement,, That the trends and fashion of colors for the new year are presented in a different way and style and that reflect the changes that have occurred in the world environmentally, socially and economically and modern color trends fulfill the difficult equation for now where different tastes are taken into consideration and relies on science and technology... In addition to relying on production inputs manufactured according to the best specifications and international quality Therefore, GLC decided to adopt a new approach and ideas Made by innovative designers to create a different design, be the color stemming from the idea is the basis. And the results were impressive and exceeded the company's expectations. Noted that the 2021 color trends launch conference is the first of its kind in the Middle East، Which strengthens Egypt's position at the economic level and supports the mission of promoting investment and business opportunities in Egypt، Especially after the bold economic and social reform phase that Egypt witnessed 6 years ago، works on the importance of putting Egypt in the field of fashion and colors، And confirmation of the state's appreciation for innovation To be fully qualified to become...
2020-12-31 12:26:41
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
Giza General Contracting and Real Estate Investment Company (GGCC) has been assigned by the New Damietta Development Authority (NDDA) to construct 55 luxurious residential buildings in New Mansoura City, according to the company’s statement. The buildings will be established in the second phase of Janna luxury housing project at an estimated cost of EGP 600 million, the statement highlighted. NDDA is the governmental authority that supervises on New Mansoura City. The company has announced the financial statements for the period from 01/01/2019 to 31/12/2019, where the results showed that the company has achieved a net profit of 53,460,647 pounds, down from 62,807,948 pounds in the corresponding period a year earlier.
2021-03-03 11:49:53
Arch. Hisham El Sergany, Commercial Director of EGYBEL: We started with the slogan "No Way to Compare", and thanks to our unmatched quality, we undertook some of the largest Egyptian projects. Fortunately, the current projects are concerned with quality as a prerequisite for implementation. interview : Ali Dagher The urban system is, without a doubt, built on the unbreakable partnership between the architectural industries and their building materials. The superior and diverse production of the materials involved in the construction industry is a vital tool to truly showing architectural and engineering creativity. In addition to this, the architectural industries, in general, are the main driver for most economic activities, thanks to the investments accompanying them as well as the size of the manpower and job opportunities they provide. The industry of aluminum facades for buildings is one of the most important industries of modern building materials. So, modern architectural trends and aesthetic appearance of buildings cannot be completed without the use of aluminum and glass facade systems, in addition to all door and window systems. This industry has grown and developed significantly, thanks to a group of investors who lead the evolution of construction in Egypt. EGYBEL comes on top of these companies with a relatively early start, as its production began in 1989 and has since developed significantly and occupied an advanced position among t...
2021-05-05 14:41:20
