Egypt

Egypt wins $131m Kuwait funding for desal projects – Egypt

Kuwait Fund for Arab Economic Development (KFAED) said it has signed a deal with Egyptian government to provide funding worth KD15 million ($50 million) for the construction of four water desalination plants in South Sinai region of the country.

The duo also signed another loan deal under which the Kuwait Fund would present an additional loan worth KD25 million ($85 million) to the Egyptian government for development works.

Details of housing projects, water plants inaugurated by Sisi – Egypt

President Abdel Fatah al-Sisi inaugurated on Saturday six housing projects and three water plants. The president visited Mahrousa 1 social housing project in Al Jabal Al Asfar in Daqahliyah governorate, which is part of Greater Cairo, while inaugurated the rest via video conference.

The other social housing projects are located in Al Asher Min Ramadan City, New October City, and 3,348 residential units in Cairo’s Badr City, and South Sinai. That is in addition to Ahalina 1 social housing project in Salam city in Cairo.

Egypt signs 2 water system deals worth EGP2.2 billion with Kuwaiti Fund – Egypt

Egypt and the Kuwait Fund for Arab Economic Development signed two agreements on Saturday to establish an EGP 1.4 billion water system in Bahr Al-Bakr and to finance four desalination plants in South Sinai governorate for EGP 880.5 million.

The signing comes on the sidelines of the Africa 2018 forum taking place in the Red Sea resort city of Sharm el-Sheikh.

Water projects implemented in N. Sinai worth LE533M – Egypt

The National Authority For Potable Water and Sewage has implemented a number of projects worth LE 533 million in North Sinai.

Work is underway to establish other projects at a total cost of about four billion pounds, said Alaa Ibrahim, the head of the executive office of the authority Tuesday.

Two desalination plants have already been established in Arish at a total cost of LE 175 million , Ibrahim said.

Minister: Trade volume between Egypt, France hits USD 1.459 billion in 8 months – Egypt

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.

This came at a meeting that Nassar held with French Ambassador in Cairo Stéphane Romatet to discuss future economic relations between both countries and current French investments in Egypt.

EGP 3.4bn revenues of SCZone form settlements with investors – Egypt

The Suez Canal Economic Zone (SCZone) has achieved revenues worth EGP 3.4bn since early April 2017 through settling problems with investors who are in the region since 1998 by 99.8%.

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.

Finding a solution for Egypt’s water crisis – Egypt

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.

World Bank to provide $1B grants for Sinai development – Sinai – Egypt

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.

Sisi inspects development projects in Galala plateau – Suez – Egypt

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.

Sisi reviewed the latest developments of this integrated project, hailing the efforts exerted in implementing this great project according to the set timetable.

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.

The total planned investments in South Sinai development are worth EGP 1.363 billion, she said.

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