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Thursday, 13 January 2022

Air Supply, Kima ink EGP 260 mn agreement for gas factory in Aswan complex

Air Supply and Kima ink agreement for new gas production project: Air Supply Group signed an EGP 260 mn agreement to construct, manage, and operate a medicinal gas factory at Kima’s Aswan complex, Hapi Journal reported. Some of the oxygen and nitrogen produced at the factory, which is set to start operating in 1Q2023, will go towards Kima’s production of ammonia nitrate. Air Supply was founded in 2010 and specializes in the production of industrial and medical gasses as well as other chemicals.

The Central Bank of Egypt has established (pdf) an information security center in a bid to bolster banks’ cybersecurity.

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

  • The Suez Canal Authority wants to increase its share of global energy trade to 15% by 2040, up from 8% in 2019.
  • Elsewedy to light up the new capital: Elsewedy Electric for Trading and Distribution signed an EGP 443.4 mn contract (pdf) to light the New Administrative Capital’s South Ben Zayed Road.
  • E-waste recycling company Recycle Key will invest EGP 200 mn to establish its second factory in the Sadat City Industrial Zone, set to be completed by the end of the year.
  • The National Telecom Regulatory Authority has issued (pdf) the regulatory framework for the provision of Internet of Things (IoT) services.
  • Land reclamation: More than 2 mn feddans of agricultural land will be reclaimed in the next two years, President Abdel Fattah El-Sisi has reportedly said.

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