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Wednesday, 29 April 2020

Your top 5 infrastructure stories of the week

Your top infrastructure news of the week:

  • Damietta LNG plant agreement collapses: An agreement to reopen the Damietta LNG plant between the Egyptian government and operator Union Fenosa Gas has collapsed after certain conditions failed to be met.
  • Sixth of October dry port: The European Bank for Reconstruction and Development and the African Development Bank will help finance 70% of the first USD 176 mn phase of the Sixth of October dry port.
  • Sokhna port to open in June: DP World is expecting to open its second EGP 10 bn Sokhna port in June.
  • Electric railway signaling: The National Railways Authority is closing in on a EGP 3 bn loan agreement with Banque Misr and the National Bank of Egypt to finance the authority’s transition to an electric railway signaling system and the purchase of spare parts for its fleet.
  • Alex port upgrade: The Alexandria Port is set to complete its EGP 840 mn cargo truck overpass, EGP 460 mn multi-storey garage, and new mooring and docking facilities within two years.

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. © 2020 Enterprise Ventures LLC.