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Monday, 31 October 2022

More news from the EV frontier + Cosmic Village is back in the headlines

A unit of renewable energy player Infinity is reportedly interested in assembling EV charging stations here, Al Mal reports, saying it is eyeing foreign tech for the project. Talks are at a very early exploratory stage, we’re told.

MEANWHILE- The military’s dual-fuel pickup truck JV with the Emirates’ M Glory is still on the runway. The Military Production Ministry said yesterday that it had had talks with M Glory execs about tech transfer and other “developments of joint cooperation.” The two sides had originally aimed to have the facility up and running by 1H 2022.

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

  • The Sovereign Fund of Egypt will in the coming weeks contract a real estate company to develop Cosmic Village in Sixth of October. (Al Mal)
  • GB Auto has appointed Alpha Capital to conduct an independent valuation of its stake in Netherlands-based subsidiary MNT Investments ahead of a partial sale to Chimera Investments. The valuation is a routine part of the sale process, a company official told us. (Disclosure, pdf)
  • State buyer GASC has contracted to import 150k tons of sugar. (Supply Ministry statement)
  • Amer Group’s board of directors approved a plan to spin off some of the company’s activities into a separate firm, dubbed A Capital Holding. (Disclosure, pdf)

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