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Tuesday, 9 February 2021

Also on our radar on 9 February 2021

China State Construction Engineering Corporation (CSCEC) is building five skyscrapers in New Alamein under a contract signed yesterday with the New Urban Communities Authority (NUCA), according to a cabinet statement. NUCA will arrange financing for the buildings, which include a 250-meter 68-storey high-rise and four other, 200 meter-high tower blocks. CSCEC, the world’s largest construction outfit by revenue, will also build a mixed-use complex in the southern region of the new city and is separately working on the new capital’s business district.

Other things we’re keeping an eye on this morning:

  • EGX-listed snackfood maker Edita has launched (pdf) HoHos Extreme, a super-sized HoHos chocolate cake.
  • Pharma player EIPICO could establish a new USD 35 mn factory with Kazakhstan’s RTA Group and receive advanced manufacturing technology, after the two firms inked an MoU at the Egyptian-Kazakh Business Forum earlier this week, according to a bourse disclosure (pdf).
  • Telecom Egypt has contracted IBM to develop its infrastructure based on hybrid cloud technology.

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