Back to the complete issue
Sunday, 2 December 2018

Qalaa to invest EGP 30 bn over three years, says Heikal

INVESTMENT WATCH- Qalaa to invest EGP 30 bn over three years: Qalaa Holdings is planning to invest EGP 30 bn over the coming three years, Chairman Ahmed Heikal said. That includes capital earmarked for subsidiary Egyptian Refining Company’s USD 4.3 bn refinery in Mostorod, which is currently around 98% complete, according to Heikal. The chairman had previously said that the refinery is set to become fully operational by May of next year. Heikal was tight-lipped about the remainder of his company’s planned investments.

TAQA Arabia, Hassan Allam to inaugurate EGP 1.35 bn Benban solar plant next month: Qalaa subsidiary TAQA Arabia and Hassan Allam Holding are also expecting to inaugurate their EGP 1.35 bn, 50 MW solar power plant in Aswan’s Benban complex next month, Heikal said, according to Al Mal. Qalaa had said in August that trial operations were expected to begin by year’s end, with commercial operations ramping up early in 2019.

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.