INTERCONSULT OICE Antenna in Egypt Tel.: 202-7489810 Fax:202-7603136 email: [email protected] News Letter of October 2006 4 new grant agreements to be soon signed with the EU worth Euro 129 million. 4 new grant agreements are to be soon signed with the EU worth Euro 129 million. They include Euro 88 million to support the Heath Care Sector, Euro 20 million to consolidate resources of the Social Fund for Development and Euro 11 million to support Scientific Research and Development Program, apart from Euro 10 million to enable subsidize interest on credits to finance industrial waste treatment projects at eligible small to medium size factories. A tender to be released by ENR – Egyptian National Railways Authority in two months to procure & overhaul locomotives, also to revamp signals electrification. According to Egypt Minister of Transport, Eng. Mohamed Mansour, a tender to be released by ENR – Egyptian National Railways Authority in two months to procure & overhaul locomotives, also to revamp signals electrification. It provides for the purchase of 65 brand new locomotives, for the rehabilitation of other 200 locomotives & for the revamping of signals. Meanwhile ENR workshops are being developed & upgraded, also linked together via an information network. $ 37.5 million project announced for two electric links of Jerico & Ghaza Cities in Palestine with the Jordanian & the Egyptian power grids. $ 37.5 million project was recently announced for two electric links of Jerico & Ghaza Cities in Palestine with the Jordanian & the Egyptian power grids respectively. Finance for the project has been so far raised by the Jeddah based IDB – Islamic Development Bank ($10 million), by Al Aqsa Mosque Fund ($10 million) & by the SDF – Saudi Development Fund ($5 million). N.B. Project is crucial for both cities considering the severe shortage of electricity supply therein. A project to produce gas liquids at Suez Gulf Zone seems in the pipeline promoted by 50/ 50 joint venture between Dana Gas Al Bahrain Co. and Cairo based E Gas (Holding Co. for Natural Gas). A project to produce gas liquids at Suez Gulf Zone seems in the pipeline promoted by 50/ 50 joint venture between Dana Gas Al Bahrain and Cairo based E Gas (Holding Co. for Natural Gas). Worth indicating is that Dana Gas Al Bahrain is 66 % owned to Sharja based Dana gas of the UAE with the remaining 34 % held by Bahraini investors. The project will depend on the so-called gas-to-liquids technology, deemed an advanced technology in the industry. No mention was given to values or to estimated investments. 1/8 INTERCONSULT OICE Antenna in Egypt Tel.: 202-7489810 Fax:202-7603136 email: [email protected] More details released on the $ 745 million project for the extraction & processing of salt & minerals from Qaroun Lake in El Fayyoum promoted by an affiliate to Al Kharafi Group of Kuwait. More details were recently released on the $ 745 million project for the extraction & processing of salt & minerals from Qaroun Lake in El Fayyoum promoted by an affiliate to Al Kharafi Group of Kuwait. The project targets to stop converting the lake into a Dead Sea by 2010. A hearing session, held recently by the project owner & attended by leading university professors for science & experts in environment, concluded the scheme would help the country stop completely any minerals & salts imports & turn into an exporter thereof. Project, to be executed over 3 stages, would generate 5,000 employment opportunities & $ 250 million annual exports, apart from the reduction of salt & minerals concentration in the Lake water to their normal levels. It would further enable the reclamation of lands surrounding the lake. An almost half page full reportage on the scheme, published in the media, is deemed a useful piece of market literature to concerned parties & businesses. N.B. Earlier media reports indicated that Al Kharafi Group has also plans for a mega tourist development project in Fayyoum. $ 1 billion refinery project in Ein Al Sukhna promoted by Al Kharafi Group to have a daily capacity to handle 150,000 barrels of heavy crude oil. $ 1 billion refinery project in Ein Al Sukhna is now promoted by Al Kharafi Group to have a daily capacity to handle 150,000 barrels of heavy crude oil. The Group has already submitted a complete project feasibility study to the EGPC – Egyptian General Petroleum Corporation. Project will mainly depend on local heavy crude supplies, also on supplies via Sumed pipeline. Award of the solar component package of Al Kureimat thermal solar power station of 150 MW capacity to be announced next month. According to Egypt Minister of Electricity & Energy, Dr. Eng. Hassan Younis, award of the solar component package of Al Kureimat thermal solar power station of 150 MW capacity is to be announced next month. Project goes under partial finance of $ 97 million from Japan and $ 50 million from the World Environment Fund. Project is scheduled for completion by 2009. It is deemed the first in kind in Egypt and The Middle East. Indorama Egypt for Petrochemicals affiliated to Indorama of India applying for a project license to produce ammonia under $ 200 million estimated investments. Media reports revealed that Executives of Port Said Governorate & of Port Said Port Authority have reviewed with the Chairman of Indorama Egypt, affiliated to Indorama Group of India, a project to produce anhydrous liquid ammonia at East Port Said Port 2/8 INTERCONSULT OICE Antenna in Egypt Tel.: 202-7489810 Fax:202-7603136 email: [email protected] under $ 200 million estimated investments. Project would have a 1,600 tons/ day design capacity & would generate annual exports worth $ 125 million. It requires 200,000 M2 land. Scheme also requires 10 MW/ II kV electricity & 750 M3/ hour soft water. Scheme would further require a special dock at the port. A work team formed at the Ministry of Civil Aviation to evaluate techno- economical feasibility of a new airport project in Sohag. A work team was recently formed at the Ministry of Civil Aviation to evaluate techno- economical feasibility of a new airport project in Sohag. Development followed earlier directives of President Moubarak to build the airport to enhance development & investment in the Governorate, also improve its links with other governorates. According to Eng. Ibrahim Mannaa, Chairman of the Holding Co. for Airports & Air Navigation, the project will be located 15 Km to the south west of Sohag City & will assure future expansion options. It would comprise departure & arrival halls for international lines, a hall for domestic flights, a 3 Km long 60 meters wide runway, an aeronautic control tower & a park for 3 airplanes, No mention was given to involved investments. N.B. Development follows earlier announced decision to link Sohag with the Red Sea via a 220 Km long highway financed from receipts of the fees for the third mobile telephone license. Seven international companies from Germany, Denmark, France & China invited to bid for a second production line at Misr Cement Co. Qena SAE to produce 1.4 million tons/ year of cement/ clinker. Seven international companies from Germany, Denmark, France & China invited to bid for a second production line at Misr Cement Co. Qena SAE to produce 1.4 million tons/ year of cement/ clinker. That was announced by the Company Chairman, Eng. Mohamed Mahmoud Ali Hassan, indicating that bids opening session for the $ 100 million project would take place in January 2007 & that the project is scheduled for completion in 15 months. Output is projected for export to Europe via Safaga Port after equipping it with a special dock. Eng. Hassan has revealed that the company has exported during the first 9 months of 2006 some 537,000 tons of bagged cement effected mainly to Sudan & other Red Sea Basin Countries, also to Syria, at prices averaging the equivalent of L.E. 400/ ton. 46 new petroleum wells to be drilled countrywide over the next stage under 12 petroleum concessions and natural gas, via pipelines, to reach Asswan by 2010. Egypt Minister of Petroleum & Minerals, Eng. Sameh Fahmy, announced that 46 new petroleum wells are to be drilled countrywide over the next stage under 12 petroleum concessions & that natural gas, via pipelines, would reach Asswan by 2010. Wells are located on Egypt boarders with Sudan & Libya, also in the Red Sea Zone, the Eastern & the Western Desert. The Minister has indicated that 7 of the said concessions were already signed & the remaining 5 are still to be signed with the Southern Valley Petroleum Holding Co. As regards natural gas, the Minister has assured that works 3/8 INTERCONSULT OICE Antenna in Egypt Tel.: 202-7489810 Fax:202-7603136 email: [email protected] have started on its pumping southwards over several stages. That involves a 145 Km long pipeline from Beni Swef to Minya and a 116 Km long pipeline from Minya to Assuit. Meanwhile natural gas pipelines are now also extended to Taba & Sharm El Sheikh in Southern Sinai. After 6 months of suspension, works resumed on the L.E. 150 million roads construction project to complete Mansoura/ Gamassa link to the International Northern Coast Road. After 6 months of suspension, works resumed on the L.E. 150 million roads construction project to complete Mansoura/ Gamassa link to the International Northern Coast Road. Project provides for the double tracking of a 35 Km long section of the said link (between Gamassa & Ammar Bridge), the construction of a double track road between Mansoura main bridge & Ammar bridge, also the construction of 3 overhead bridges across a subsidiary canal. The scheme saves 14 Km & 25 minutes traveling time to go from Mansoura to Gamassa in less than 35 minutes instead of more than an hour before, going along Talkha/ Batra/ Basandila/ Ammar Road.