In its annual meeting held in October, the European Bank for Reconstruction and Development (EBRD) approved its next five-year strategy, putting Egypt as the bank’s biggest investment country through 2025.
During her visit to Egypt in November, Managing Director for the EBRD’s Southern and Eastern Mediterranean (SEMED) region Heike Harmgart shared with Ahram Online in an exclusive interview the key pillars of the bank’s new strategy and how Egypt is expected to benefit from the scheme.
A desalination plant will be established in Matrouh’s Hamam City with a capacity of 190,000 cubic metres per day and three other plants will be built in Safaga, El-Quseir, and Marsa Alam with capacities ranging between 20,000 and 40,000 cubic metres per day, Maait added in a statement on Thursday.
The Red Sea Development Company (TRSDC) has revealed it has awarded more than 500 contracts to international and local firms – totalling around $2 billion – since its flagship regenerative tourism initiative, the Red Sea Project, was announced in July 2017.
At a specially arranged press conference held today, the firm said that these contracts had included awards for the design, build and operation of state-of-the-art accommodation and facilities at the Red Sea Project, adding that it expects a roll-out of new contracts by the end of 2020 to take aggregate commitments to a total approaching $4 billion.
The university comprises 15 faculties distributed among its three branches in El-Tor, Ras Sedr, and Sharm El-Sheikh cities, and can accommodate over 25,000 students, according to a video played during the inauguration.
Al-Sisi’s remarks came during a meeting with Prime Minister Mostafa Madbouly, Minister of Planning and Economic Development Hala El-Said, Minister of Communications and Information Technology Amr Talaat, and Executive Director of TSFE Ayman Soliman.
Almar Water Solutions, Abdul Latif Jameel Energy’s dedicated water solutions unit, and HA Utilities BV (HAU), part of Hassan Allam Holding (HAH), have finalized a deal with the Ridgewood Group, taking ownership of assets with a total desalination capacity of 82,440 cubic meters of drinking water per day, from 58 desalination plants located across Egypt.
The deal was closed under the joint venture between Almar Water Solutions and HA Utilities BV, announced in 2019, and created to provide sustainable water infrastructure solutions to both municipal and industrial clients across Egypt.
Egypt is facing a major challenge in balancing between its water resources and needs, especially with around 97 percent of its water resources flowing in from outside its borders, Irrigation Minister Mohamed Abdel-Aty said on Sunday.