Egypt has secured a $420 million foreign investment commitment for a 580-megawatt wind power project on the Red Sea coast, marking another significant step in the country's drive to expand renewable energy capacity and attract private-sector capital into the energy sector.
AD Ports Group, a leading global enabler of integrated trade, industry and logistics solutions, today launched trial operations at Noatum Ports - Safaga Terminal in Egypt ahead of the terminal’s full operational launch later this year.
Swissôtel, globally recognised for its vitality-led philosophy and mastery of Swiss hospitality, has announced the opening of Swissôtel Resort El Quseir further expanding its presence along Egypt’s Red Sea coast.
Bahrain-based Al Baraka Islamic Bank has announced the launch of a cross-border banking service that allows customers to open bank accounts in Egypt with ease. This reflects its commitment to expanding global services and providing integrated banking to its customers.
Rixos Hotels Egypt has opened Rixos Premium Magawish Bay View, a new five-star resort on Egypt’s Red Sea coastline, located beside Rixos Premium Magawish Suites & Villas.
EFG Hermes, an EFG Holding company and a leading investment bank in the Mena region, has announced the successful closing of an E£5.1 billion corporate bond issuance for EFG Corp-Solutions. The transaction marks the largest corporate bond issuance ever completed in Egypt’s debt capital market.
Egypt and the European Union are strengthening their strategic energy partnership with a financing package of up to €690 million ($801 million) to upgrade and expand Egypt’s electricity grid. The funding includes a €600 million loan from EIB Global and up to €90 million in European Commission grants.
Egypt and the UAE have discussed expanding energy cooperation, focusing on increased Emirati investment in petroleum, aviation fuel, and exploration activities, alongside plans to establish a joint working group to advance sector opportunities.
Leading regional developer Hassan Allam Holding is introducing Grova EastHills, its first signature mixed-use, single-family-only community in Egypt, thus marking a new chapter for the group. Set across 300 acres of naturally elevated terrain in East Cairo, the project features a unique approach to community living.
Sungrow, in partnership with ACO and Korra Energi, has commissioned a 1.4 MWp solar system at the Esh El Mallaha petroleum facility in Hurghada, addressing persistent energy challenges in Egypt’s remote oil and gas operations.
