Construction News
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Egypt's Palm Hills plans $230 mln share issue to raise capital
PH had called a shareholders meeting to approve the plan, which aims to increase its capital from 2.7 billion to 4.35 billion pounds.
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Orascom Development Holding offers 10-15% in stock market
The company stated that its management is “optimistic with the company’s performance”, adding that it expects a stronger performance after parliamentary elections.
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France loans Egypt €7.15m to develop Taba International Airport
Loan scheduled to be repaid in 20 years, with six year grace period and 0.17% interest.
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Cement companies look to control market prices in face of production decline
The rise in cement prices to EGP 800 per tonne comes despite reduced quantities produced throughout the winter season due to a decline in demand.
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Egypt's Suez Cement to convert two factories to run on coal
Suez Cement said it will convert two of is factories in South of Cairo to run on coal in order to overpass shortage in naturel gas supplies.
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Subsidies and the Construction Industry
The Cement and Steel Industry are under threat due to the government’s plans to reduce subsidies on energy-consuming industries.
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Palm Hills bets on commercial property as Egypt's economy recovers
A nascent economic recovery is fuelled by foreign investors - which the government is courting with structural reforms and mega-projects.
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Kuwaiti Al-Manshar to develop LE2 billion project in Egypt
The board of directors saw a need to take advantage of the Egyptian government’s keenness to attract investments.
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Official says 700 bridges in Egypt at risk of collapsing
75 percent of roads in Egypt are “deficient” and are in urgent need of rehabilitation.
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EALB in talks with 5 Gulf firms to market its property assets
The bank has recently contracted with Marsa Abu Dhabi Properties LLC to marketing assets for Egyptian abroad in the current year.
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Al-Futtaim to invest $700 mln in Egypt after dispute settled
Investments would be directed towards new projects in a second phase of the company's Cairo Festival City development.
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Egypt's Amer Group to become two companies
Real estate developer will become two companies in order to show actual value of its Porto projects and as part of wider plans to expand other developments.
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Egypt hires German firm to bore transport tunnels under Suez Canal
Unlisted Herrenknecht AG was discussing contract details, a spokesman for the company said on Friday, giving no details.
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Egypt says it resolves land dispute with Dubai’s Al-Futtaim
A government source had previously said the negotiators were considering a payment of around 235 million Egyptian pounds ($33 million).
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Egypt's SODIC reports 37 pct rise in profit
SODIC, Egypt's third-largest listed property developer, reported a 37.4 percent rise in nine-month net profit on Tuesday.
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Orascom Construction to obtain IPO in February: Nassef Sawiris
Company won international arbitration case against petroleum ministry but decided not to act upon it, the businessman says.
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UAE's Aabar buys 5.1% stake in Palm Hills
Aabar, a subsidiary of the United Arab Emirates' sovereign wealth fund and run by the Abu Dhabi government, will have a representative on the board.
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KEPCO to build Korean Nuclear Plant in Egypt
Korea Electric Power Corporation (KEPCO) held “Korean Nuclear Industry Roadshow” at Cairo, Egypt from Nov. 5 to 6.
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Egypt steel producers lower prices in November
Price cuts come after last month's introduction of temporary import tariffs to protect local steel makers from influx of cheaper steel from abroad.