Egypt has signed framework agreements worth USD83 billion with international power companies to construct nine green hydrogen and ammonia facilities in the Suez Canal Economic Zone.
Egypt’s unemployment rate rose marginally to 7.4% in 3Q 2022, up 0.2 percentage point from last quarter.
The Sovereign Fund of Egypt could acquire a minority stake in ACWA Power’s planned 1.1-GW wind farm in the Gulf of Suez.
The Ministry of Electricity has started negotiations with the German Development Bank to obtain a loan of EGP400 million to finance the modernization and development of a number of generators.
ReNew Power and SWDY signed an agreement for an USD8 bn project that will produce 220k tons of green hydrogen and 1.1 mn tons of ammonia a year.
The European Bank for Reconstruction and Development will provide a USD80 mn loan to Fertiglobe-Scatec-ORAS-SFE ammonia plant.
FWRY 3Q22 net profit reached EGP71.7 million (+99.4% YoY, 197.2% QoQ).
DOMT 3Q22 net profit reached EGP51.6 mn (-1.3% YoY, -15.1% QoQ).
EMFD net profit in 3Q22 increased 22.6% y/y and 21.4% q/q to EGP1.8 billion.
HELI 3Q22 net profit reached EGP11.7 million, compared to 3Q21 net loss of EGP75.2 million and 2Q22 net profit of EGP639.9 million.
PRDC reported net profit of EGP445.7 million in the period 8 September 2021 (date of incorporation) to 30 September 2022.
HDBK 3Q22 standalone net profit reached EGP549 million (-3% q/q, +27% y/y).
CANA 3Q22 net profit reached EGP467 million (+243% y/y, +172% q/q).
CNFN 3Q22 net profit reached EGP139 million (-39% y/y, +170% q/q).
RAYA 9M22 net profit reached EGP424 million (-37.2% YoY).
RMDA 3Q22 net profit reached EGP71 million (+65.0% YoY, +35.0% QoQ).
ECAP 3Q22 net profit increased 75.5% YoY and 48.8% QoQ to record EGP54.5 million.
GDWA recorded net profit of EGP207 million for the period starting the establishment of the company until September 30, 2022.
EGCH 1Q22/23 net profit reached EGP471 million (+178% QoQ , +286% YoY).
The Suez Canal Container Terminal signed a contract with the Suez Canal Economic Zone yesterday to build and operate a second container terminal at Port Said Port.