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Wednesday, 24 June 2020

Your top infrastructure stories of the week

Your top infrastructure stories of the week:

  • Elsewedy secures Mostakbal City project: Elsewedy Electric’s Trading & Distribution unit signed a EGP 423.3 mn agreement with El Mostakbal Urban Development to complete electricity and communications infrastructure for sections of phase three of Mostakbal City.
  • HA to construct Afghan power plant: Hassan Allam Utilities has signed a USD 89 mn debt financing package with Ghazanfar Group’s Afghan Power Plant Company to develop a 59 MW gas power plant in northern Afghanistan.
  • Three new logistics zones: The Supply Ministry will issue tenders for three logistics zones in the Red Sea, Suez, and Sharqiya governorates that are expected to draw around EGP 14.5 bn of investments.
  • Electric vehicles: The Metallurgical Industries Holding Company has signed a preliminary agreement with Chinese automaker Dongfeng to assemble electric vehicles at El Nasr Automotive.
  • Smart meter investment: The International Finance Corporation is investing USD 10 mn in Egyptian electricity measurement technology manufacturer Globaltronics to help expand the company’s prepaid digital meter installation program across Egypt.

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