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Thursday, 10 February 2022

Omani firm wants to manage the Ring Road’s BRT system + Raya wants in on EVx

Omani investment firm eyes BRT: Omani investment group Bin Omeir Holding has expressed interest in operating the Cairo Ring Road bus rapid transit (BRT) system, the Transport Ministry said yesterday. This came during talks between Transport Minister Kamel El Wazir and the chairman of the company, which operates public transport in Abu Dhabi and Tanzania. The BRT system will provide an alternative means of transportation on the Ring Road, and is aimed at reducing traffic on the congested freeway.

Another EV player? Raya Auto is in advanced talks with two international companies to import electric vehicles into Egypt this year, before locally assembling the cars in a second phase.

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

  • Chinese building manufacturer Jushi is planning to set up a new fiberglass production facility in Egypt, with an expected production capacity of 120k tons annually.
  • Some 125k Russian tourists visited Egypt in the first two weeks of 2022, while last year saw more than 700k Russians visit, Russian ambassador to Egypt Georgy Borisenko said.
  • NBK Egypt has been officially removed from the EGX as of today. The bank decided to voluntarily delist its shares from the bourse last year.
  • A consortium made up of Hassan Allam Holding and Abdul Latif Jameel has proposed a project to produce 1 mn cubic meters of desalinated seawater a year.

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