Tag: transport

  • Canal Shipping Agencies nods to EGP 60m surplus cash distribution

    Canal Shipping Agencies nods to EGP 60m surplus cash distribution

    Canal Shipping Agencies announced that its shareholders had approved a surplus cash distribution of EGP 60 million to shareholders during its ordinary general meeting (OGM) held on 29 August. The payment will be deducted from statutory reserves as of 30 June 2018, the company said in a statement to the Egyptian Exchange (EGX) on Sunday. […]

  • Dubai’s RTA to open AED 1.3bn infrastructure projects for Expo 2020

    Dubai’s RTA to open AED 1.3bn infrastructure projects for Expo 2020

    Dubai’s Roads and Transport Authority (RTA) on Saturday opened Phase 3 and Phase 4 of roads leading to Expo 2020 project to ensure a smooth traffic flow that serves visitors and future projects in the area, according to the Emirates News Agency (WAM). Works include constructing intersections of Sheikh Zayed bin Hamdan Al Nahyan Street […]

  • Revolta Egypt plans to invest EGP 60m in Upper Egypt

    Revolta Egypt plans to invest EGP 60m in Upper Egypt

    Revolta Egypt, a developer of electric vehicle-related projects, aims to inject investments worth EGP 60 million to Upper Egypt’s governorates, the company’s board member and chief of business development sector, Ezz El-Din Ibrahim, said. Such investments will be directed to build new electric vehicle charging stations, Ibrahim told Mubasher. Revolta Egypt’s investments in the Egyptian […]

  • Alafco excludes $80m planes from leasing contract with Indian firm

    Alafco excludes $80m planes from leasing contract with Indian firm

    Alafco Aviation Lease and Finance Company announced that it has excluded two Boeing B737-800 planes from its leasing contract with the Indian company Jet Airways, as the latter had failed to fulfill its obligations. Alafco highlighted that the total value of the two planes amounts to $80 million (KWD 24.5 million) as per the posted […]

  • UAE’s DAE records $197m profit in H1

    UAE’s DAE records $197m profit in H1

    Dubai Aerospace Enterprise Ltd. (DAE), a global leading aircraft leasing company, reported achieving a profit of $197.1 million for the first half of 2019, versus $195.2 million in H1-18. The company has generated total revenue of $726.9 million for H1-19, compared to $711.4 million in the corresponding period of 2018, DAE said in a statement. […]

  • Egypt to invest $1.8bn to develop Metro’s 1st, 2nd lines

    Egypt to invest $1.8bn to develop Metro’s 1st, 2nd lines

    The Egyptian Ministry of Transport on Tuesday signed supply and maintenance contracts with Korean-French conglomerate for air-conditioned six subway trains and two tractors for the Second Line of Cairo Metro. A complete plan for the development of the First and Second Line, with total investments of EGP 30 billion ($1.81 billion), was devised to improve […]

  • DMCA highlights safety, operational efficiency

    DMCA highlights safety, operational efficiency

    Dubai Maritime City Authority (DMCA) recently discussed the importance of promoting safety and operational efficiency, at the Maritime Advisory Committee meeting. The meeting, which was attended by maritime stakeholders from both the public and private sectors, included key discussions on how to provide full support in the ongoing efforts to maintain the highest global maritime […]

  • Canal Sugar to set up $200m grain terminal, pier in Damietta

    Canal Sugar to set up $200m grain terminal, pier in Damietta

    Canal Sugar Co. plans to establish a grain terminal and a pier with investments valued at $200 million in the Egyptian port of Damietta, the company’s CEO and managing director Islam Salem said. The project will include a 250-metre pier for transporting grains as well as a grain terminal, the top official added on the […]

  • DP World Sokhna receives two cranes for EGP 140m

    DP World Sokhna receives two cranes for EGP 140m

    DP World Sokhna has received two Liebherr LHM550 mobile harbor cranes worth EGP 140 million ($8.4 million), according to a statement released by the Suez Canal Economic Zone (SCZone) on Tuesday. This move aims to further boost the company’s productivity at the container facility at Ain Sokhna Port on Egypt’s Red Sea coast. The new […]

  • Ain Sokhna Port sees EGP10bn expansion project

    Ain Sokhna Port sees EGP10bn expansion project

    Ain Sokhna Port on Egypt’s Red Sea coast is currently witnessing the largest expansion project, the second basin project, with investments of EGP 10 billion ($560 million), head of Suez Canal Authority (SCA) and Suez Canal Economic Zone (SCZone), Mohab Mamish, said. The expansion project includes a new container facility covering 350,000 square metres, according […]