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Tuesday, 27 April 2021

Also on our Radar on 27 April 2021

Elsewedy Electric subsidiary signs EGP 870 mn agreement for Delta regional control center: A consortium of Elsewedy Electric’s unit, Elsewedy Electric for Trading and Distribution, and Japan’s Hitachi ABB has won an EGP 870 mn turnkey EPC contract to build the Delta regional control center with the Egyptian Electricity Transmission Company, according to a press release (pdf). The project will be completed over two years and covers construction works and the design, supply and installation of the SCADA system.

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

  • Thirty-one Egyptian universities were named in Times Higher Education’s Impact Rankings, with Cairo University being ranked among the world’s top 100 universities for the first time.
  • EgyptAir plans to add another flight between Cairo and Moscow to its flight schedule, taking its total weekly flights to six.
  • Al Marasem International is looking to obtain EGP 3.3 bn in Islamic financing from a banking syndicate led by Banque Misr and Banque du Caire under a mudaraba contract to fund its developments in the new administrative capital’s R5 district, Hapi Journal reports, citing unnamed sources. The final contract should be signed “within days,” according to the sources.
  • Misr Ins Group. plans to set up a new company specializing in medical ins, Chairman Basel El Hiny said yesterday.
  • Unauthorized filming of criminal trial sessions could be criminalized under a draft bill approved by the House’s Legislative Committee yesterday, Youm7 reports. Those who photograph or make audio/video recordings of the sessions without a permission would face fines ranging from EGP 100k-300k.

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