Initial agreements for green hydrogen and wind power projects worth up to USD119 billion have been signed during COP27.
The Cabinet approved the draft decree to form the “Supreme Council for Investment” and its working system, which will be chaired by the President, and with the membership of each of: the Prime Minister, the CBE Governor, and a number of ministers and heads of concerned authorities.
The Gas Regulatory Authority is preparing to study increasing natural gas transit fees in the national grid, in preparation for its approval and implementation starting 2023.
The FRA has allowed Banque du Caire (BdC) to postpone the deadline for finishing procedures to IPO on the EGX to 31 March 2023.
A joint letter of intent was signed between Egypt and the EU for up to EUR 35 mn for energy projects under its Nexus on Water, Food and Energy (NWFE) program.
HRHO (FV: EGP 16.14, OW) 3Q22 net profit after tax and minority interest came in at EGP338 million (-2% q/q, -5% y/y, and 18% lower than our estimates) so that 9M22 net profit reaches EGP1,026 million (-3% y/y).
BINV 9M22 net profit doubled by 12.69 times, reaching EGP 998.92 million, compared to EGP72.92 million pounds last year.
JUFO (FV: EGP11.00, OW) released 3Q22 financial results, where attributable net profit recorded EGP155 mn compared to EGP173 mn in 3Q21 and EGP174 mn in 2Q22 (-10.6% YoY, -11.2% QoQ). 9M22 net profit recorded EGP474 mn, a drop of 3.2% YoY.
OLFI’s new farm is expected launch by 2Q23 with daily raw milk capacity of 80-100 ton and a total investment cost of EGP250-300 mn. OLFI purchases a daily amount of raw milk amounting to 200-250 ton, the farm will save them nearly half the daily pur
Infinity Power-Masdar-Hassan Allam Utilities consortium signed a framework agreement with Egyptian organizations for the development of a 2 GW green hydrogen and derivatives production facilities in the Suez Canal Economic Zone (SCZONE). First plant scheduled to be operational by 2026.
Sky Investments and Reliance Logistics consortium will establish a USD65 million multi-purpose terminal at East Port Said port under a contract signed with the Suez Canal Economic Zone yesterday.