• Thursday, 25 August 2022

    Hyundai Rotem signs USD 656 mn agreement to locally produce rolling stock for the Cairo Metro

    Hyundai Rotem has signed a USD 656 mn contract to locally produce rolling stock for the Cairo metro, the Transport Ministry said in a statement yesterday. Under the agreement, the South Korean railway equipment manufacturer will produce 40 trains comprising...
  • Monday, 21 February 2022

    NERIC eyes production of electric locomotives by end of 2022

    NERIC to begin electric locomotive production by year-end: The National Egyptian Railway Industries Company (NERIC) will begin manufacturing electric locomotives at its East Port Said factory by the end of 2022, Samcrete Chief Business Development Officer Refky Kamel said, according...
  • Tuesday, 25 January 2022

    Fawry looks to partner with local bank on prepaid cards

    Fawry is looking to partner with a local bank to issue prepaid cards soon, Al Mal reports CEO and founder Ashraf Sabry as saying. Sabry’s comments came on the sidelines of the company’s launch of Fawry Yawmy, the region’s first...
  • Monday, 17 January 2022

    Egypt to receive USD 1 bn soft loan from South Korea

    South Korea will provide a USD 1 bn soft loan to Egypt, the country’s ambassador to Cairo, Hong Jin-wook (Twitter), said at a press conference yesterday, according to Al Mal. Moon did not provide details about what the money will...
  • Thursday, 14 October 2021

    THIS EVENING: OC-led consortium to implement Ras Ghareb wind farm + Egytrans pulls the brake on HAUH takeover offer ALSO: Regini trials unfold

    Well, friends, we’ve made it through another workweek together, and our reward is not just a weekend, but the promise of a four-day workweek next week. We have a ton of news to get through before we can shift our...
  • Wednesday, 13 October 2021

    GASC calls off wheat tender due to high prices

    State grain buyer GASC has called off a wheat tender as prices offered were higher than expected Reuters reported. The tender was due for shipment between 23 November and 3 December. This is the fourth time Egypt has called off...
  • Tuesday, 4 May 2021

    Hyundai Rotem, NERIC to manufacture railcars in Egypt

    South Korea’s Hyundai Rotem will partner with the National Egyptian Railway Industries Company (NERIC) to produce railcars in Egypt after the two signed an MoU on Wednesday, the Planning Ministry said in a statement (pdf). The company will set up...
  • Tuesday, 14 July 2020

    Hyundai delivers second batch of metro railcars

    The second batch of railcars manufactured by Hyundai Rotem for Metro Line 3 has arrived in the country, according to a cabinet statement. The arrival of the rail cars comes as part of a EGP 6.36 bn agreement with the...
  • Sunday, 29 September 2019

    Egypt to receive 32 cars for third metro line

    The National Tunnel Authority will receive 32 new air-conditioned metro cars worth from Hyundai Rotem for Cairo Metro Line 3, according to Egypt Today. NAT will receive the metro cars in batches from June to the end of 2020. Hyundai...

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.