The volume of trade exchange between Egypt and France hit 1.4 billion dollars during the first eight months of 2018, including 460-million-dollar exports and 999-million-dollar imports, Trade and Industry Minister Amr Nassar said on Saturday 13/10/2018.
Mohab Mamish, the chairperson of the Suez Canal Authority and SCZone, said that the region has increased a number of assets that have not existed before, contributing to improving its credit and financial rating.
Early in January this year, a sudden decrease in the level of the Nile River water in the waterway made controversy over the country and among Egyptians who were stunned and felt worried about the future of the country amid the construction of the Ethiopian Renaissance Dam (GERD), which is believed to threaten Egypt’s water security.
The decrease in the amount of water was described at that time as normal and happens since about 100 years since the beginning of December until the end of January every year, according to Minister of Transportation Hesham Arafat.
The World Bank commission in charge of following up with the Sinai Integrated Development Programme headed by Ashish Khanna and Minister of Investment and International Cooperation Sahar Nasr discussed on Sunday finalizing the measures necessary for $1B grants.
The ministry also secured financing in the value of $2.5 billion from the Saudi Development Fund, the Kuwait Fund for the Arab Economic Development, and the Arab Fund for Economic and Social Development.
President Abdel Fatah al-Sisi embarked an inspection tour of a number of urban and service projects being carried out at the City of Galala Mountain in the Red Sea area between Ain Sokhna and Zafarana on Friday, according to a statement issued by presidential spokesperson Bassam Radi.
Egypt’s govt investment plans in South Sinai worth EGP 1.363 bn in FY 2018-19: Minister – South Sinai – Egypt
Egypt’s Planning Minister Hala El-Saeed discussed on Tuesday with South Sinai Governor Khaled Fouda investment plans and projects due to be implemented in the governorate in the 2018-2019 fiscal year.
Chief among the recommendations proposed at the closing session were encouraging the media to spread water awareness among the population, expanding the use of unconventional water resources, for example, desalinated seawater and treated wastewater, and supporting water-related projects and technologies. Noor Ahmed Abdel Moneim, an expert on strategic water management, backed the proposals. “The recommendations are good, especially those related to developing water awareness among citizens,” Abdel Moneim told Al-Monitor. “It is also necessary to develop the water desalination mechanisms currently in place, increase the use of groundwater and ration water use in water-consuming agriculture, such as rice and sugarcane.” He further stated, “Egypt suffers from water poverty. Its share of the Nile water has been 55.5 billion cubic meters since 1959, back when the population stood at 25 million. This means that the average per capita share was about 2,000 cubic meters per year compared to less than 600 cubic meters per year now, with the difference being driven by significant population growth. As the world average per capita share stands at 1,000 cubic meters, this means that Egypt is below the water poverty line.” Abdel Moneim assessed, “Egypt’s current water consumption is 76.5 billion cubic meters per year, which means that there is a deficit of about 21 billion cubic meters of water that Egypt is trying to compensate for either by reusing agricultural, health and industrial drainage water or by expanding the use of underground water.”
Khaled Kamel, vice president of energy and export at Schneider Electric’s Egypt and North East Africa office, told Daily News Egypt that the proposed desalination plants will be implemented over several stages, starting with a capacity of 300 cubic metres of water per day. He added that Seven Seas will secure the required funding for the projects and sell the desalinated water to the government for 20 years. Kamel added that the American company offered to sell desalinated water at EGP 17 per cubic metre, but the government asserted that the maximum acceptable rate is EGP 5. The two sides agreed to build the project in the North Coast or South Sinai. He further added that the company’s current focus is on negotiations with the government regarding the implementation of water projects and the price of allocated lands, as well as ways of exempting the plants from taxes or customs. Kamel asserted Schneider Electric’s interest in participating with the Ministry of Housing in the desalination projects, adding that the company has developed a study on the public sector’s partnership model with the private sector on desalination projects in preparation to discuss it with the Egyptian officials. He said that the company will complete the implementation of another four desalination plants this month with a capacity of 600,000 cubic metres per day. The company can run the water plants on solar power with a plan to participate in repair and upgrade works to water and sewage plants. Kamel also revealed that Schneider Electric presented a request to Rosatom to participate in supplying equipment to the Dabaa Nuclear Power Plant. The company also presented a report to the Minister of Military Production Mohamed Al-Assar on its factories in France and their capabilities. Source: Daily News Egypt
The Multipurpose Applications by Thermodynamic Solar (MATS) plant in Borg El Arab, Egypt has been inaugurated. A research and development initiative aimed at advancing solar energy technology in Egypt and the Middle East, the project was led by a consortium of 11 partners from Italy, France, Egypt, Germany, and the UK, Orascom Construction said in a statement. According to the company, it participated in the funding and the construction of the project. The European Union reportedly co-financed the initiative. The MAT plant comprises an integrated concentrated solar power (CSP) and water desalination facility that can serve a community of 1,000 people in a desert area, Orascom added. Describing the plant as “experimental”, Orascom said that the project will serve as a “launching pad for scaling [the] technology and developing the project into a full-fledged research and development centre for renewable energy”.
The MATS plant is not Orascom’s only renewable energy project in Egypt. The company constructed and installed the country’s first CSP parabolic trough solar field in Kuraymat, Egypt from 2008 to 2010. It is also currently developing a 250MW wind farm on a build-own-operate basis, the first project of its type and size in Egypt