An EGP 13 bn revamp at state-owned Egyptalum will see the state-owned company upgrade its equipment to newer, more energy-efficient models as part of a plan to bring down the company’s energy bill, which makes up 40% of production costs, according to a Public Enterprises Ministry statement. American engineering firm Bechtel is on board to prepare the feasibility study, which should be complete in 1H2021, ahead of the project’s implementation. Egyptalum began a EGP 7 bn project to upgrade a production line in early 2020, as part of its plan to expand its annual production capacities to 570k tonnes. The company also received six proposals for a tender launched in November for the consultancy services to develop the feasibility study for a car rims production line.

Another thing we’re keeping an eye on this morning: Qatar Airways is actively looking to hire a country manager for Egypt, and airport supervisors in the UAE, after it agreed to restore diplomatic ties with the two countries earlier this month.