Tag: EgyptFeatured

  • Egyptian Petrochemicals Co sets $300m expansion plan

    Egyptian Petrochemicals Co sets $300m expansion plan

    Egyptian Petrochemicals Co has set a future expansion plan with investments of about $300 million, the company’s chairman Mohamed Abdel Azizi said. The plan involves increasing the company’s production capacity to 200,000 tonnes of polyvinyl chloride (PVC) annually, according to a statement released by the Ministry of Petroleum on Monday. The company aims to raise […]

  • Swvl eyes $1bn valuation in 5 yrs – CEO

    Swvl eyes $1bn valuation in 5 yrs – CEO

    Egyptian bus-sharing app Swvl aims to raise above $100 million in a new financing round during the first half of 2020 as part of its plans to reach a valuation of more than $1 billion over the coming five years, the start-up’s CEO Mostafa Kandil told Reuters. The ride-hailing technology start-up also plans to launch […]

  • AAIB arranges EGP 6B securitised bonds, Egypt’s biggest transaction in 2019

    AAIB arranges EGP 6B securitised bonds, Egypt’s biggest transaction in 2019

    The Arab African International Bank (AAIB) has been on the frontline of a securitisation transaction worth EGP 6bn as an advisor and lead advisor. This momentous transaction has been issued by the Tameer for Securitization Company for a portfolio of receivables originated by the New Urban Communities Authority. Noteworthy, this has been the biggest securitisation […]

  • United Bank injects EGP 880m loans to agri, food sectors in 8M

    United Bank injects EGP 880m loans to agri, food sectors in 8M

    The United Bank injected syndicated loans worth EGP 880 million during the first eight months of 2019, the lender’s chairman Ashraf El-Kady said. Such funding include loans valued at $20 million, EGP 400 million, and EGP 150 million directed to agricultural and food sectors, El-Kady told Mubasher. In addition, the bank considers contributing to syndicated […]

  • Palm Hills invests EGP 800m in Badya to date

    Palm Hills invests EGP 800m in Badya to date

    Palm Hills Development Co has invested about EGP 800 million in Badya project in Sheikh Zayed to date, the company’s chairman Yasseen Mansour said. Such amount has been used to finance the project’s design and master plan process as well as the initial works at the project’s site, Mansour added on the sidelines of a […]

  • Catalyst Leasing inks EGP 135m deal with Obour Land

    Catalyst Leasing inks EGP 135m deal with Obour Land

    Catalyst Leasing, a subsidiary of Catalyst Partners, has signed EGP 135 million contract with Obour Land for Food Industries, according to a statement released on Tuesday. Under the five-year leasing contract, Catalyst Leasing will provide Obour Land with new high tech machines from multinational food packaging and processing company, Tetra Pak, chief operations officer at […]

  • EETC inks deal to set up EGP 440m substation in Damietta

    EETC inks deal to set up EGP 440m substation in Damietta

    Egyptian Electricity Transmission Company (EETC) signed an agreement to construct a transformer substation in west Damietta valued at EGP 440 million with the Al Kharafi-Taikai-NHVS consortium, Ahram Gate reported, citing the company’s chairman Sabah Mashaly as saying. The deal involves the establishment of a 22/220/500 kilovolt (kv) substation with a capacity of 2×750 megavolt amperes […]

  • Cooing brokers real estate sales of EGP 700m in 1H2019

    Cooing brokers real estate sales of EGP 700m in 1H2019

    Cooing, real estate broker platform, has achieved sales of EGP 700m for real estate developers during the first half (H1) of this year. Aly Rafea, marketing director at Cooing, said the company aims to achieve sales of EGP 1.5bn by the end of this year. Daily News Egypt interviewed Rafea to learn more about the […]

  • ElShams Housing approves raising capital to EGP 181.5M

    ElShams Housing approves raising capital to EGP 181.5M

    ElShams Housing and Urbanization (ELSH) approved on September 4 proceeding in the procedures of increasing issued capital according to the article No. 48 provision of EGX listing rules, as per a bourse filing. The company wish to increase the issued capital from EGP 121 million to EGP 181.5 million. -Arab Finance

  • Foodico’s board raitifes captial hike by EGP 12.5M

    Foodico’s board raitifes captial hike by EGP 12.5M

    Ismailia National Food Industries’ – Foodico (INFI) Board of Director (BoD) approved on September 03, 2019, increase the issued capital from EGP 45 million to EGP 57.5 million with an increase amounting to EGP 12.5 million. The capital hike will be distributed over 2.5 million shares. The board also suggested adding issuance expenses of EGP […]