Wintershall Dea, in collaboration with its partner, the Egyptian Natural Gas Holding Company (EGAS), has reached a historic milestone by achieving zero routine flaring at the DISOUCO Joint Venture in Egypt. The joint venture, comprising EGAS and Wintershall Dea, has set a precedent, becoming the first company in Egypt to accomplish this significant feat. The […]
In a significant development for the mining industry in Egypt, Centamin has announced that the Model Mining Exploitation Agreement (MMEA) framework has been agreed in principle with the Egyptian Ministry of Petroleum & Natural Resources (MoP) and the Egyptian Mineral Resources Authority (EMRA). This agreement pertains to the commercial discoveries made on the promising approximately […]
Hutchison Ports, a Hong Kong-based logistics company, will invest approximately $700 million in two new terminal facilities in Egypt. The new investment takes the port operator’s total investment in Egypt to more than $1.5 billion. With the new terminal facilities, Hutchison Ports will increase its network to 52 ports in 25 countries across the Americas, […]
Stena Drilling has won a new contract in Egypt with Shell’s subsidiaries BG Delta Limited and BG International for the Stena Forth mobile offshore drilling unit (MODU). According to the Scottish drilling contractor, the Stena Forth drilling unit is expected to begin operations in Egypt this year after its existing contractual commitments are completed. The […]
Egypt has commenced the main construction phase for Unit 2 of the 4.8GW El-Dabaa nuclear power plant following the approval of Egyptian Nuclear and Radiological Regulatory Authority. Located on the Mediterranean coast, the El-Dabaa nuclear power project will include four units with a generation capacity of 1.2GW per unit. El-Dabaa, which will be the first […]
Masdar, Infinity Power, and Hassan Allam Utilities, which is the investment and development arm of Hassan Allam Holding, will construct a 10GW wind project in Egypt. Infinity Power is a joint venture between Masdar, a UAE-government owned renewable energy company, and Infinity, which is an Egyptian renewable energy developer. A memorandum of understanding (MoU) was […]
Agthia Group, an Abu Dhabi-based food and beverage company, revealed plans to acquire a stake of 60% in Auf Group, an Egyptian specialized healthy snacks and coffee manufacturer and retailer. The financial terms of the deal were not disclosed. Founded in 2010, Auf Group is engaged in processing, manufacturing, retailing and distributing a portfolio of […]
Papyrus Australia, an agricultural waste fibre technology company, said that its leased moulded fibre packaging facility in Egypt has produced 100% banana fibre clam shell moulded product. With the achievement of the milestone at its packaging facility in Sharqiah, Papyrus Australia claims to be in a position to produce 6,300 clam shells per hour. The […]
French rolling stock manufacturer Alstom has bagged a contract worth €876 million for the upgrade of Cairo Metro Line 1 from Egypt’s National Authority for Tunnels (NAT), which involves delivering 55 Metropolis trains and providing maintenance for eight years. Each of the 55 Metropolis trains will have nine cars. Opened in 1987, Cairo Metro line […]
Mendel, a California-based clinical AI technology company, has secured $18 million in a Series A funding round led by global venture capital firm DCM. The funding round had participation from new investors – Olive Tree, Millennium Technology Value Partners, and Zola Global Investors. Mendel’s existing investors – Launch Capital, Bootstrap Labs, SOSV, and UCSF Health […]