The agreement includes allocating lands for measurements and technical studies required for the project, in preparation for negotiating the project’s final contracts.
Informed sources report that the project includes a green ammonia unit, agreed upon in principle between QatarEnergy and The Sovereign Wealth Fund of Egypt (TSFE), on the sidelines of a visit by an Egyptian delegation to Doha last month.
The solar plant spans over an area of 245,000 sqm, with investments worth EGP 97 mn.
The event is organized by ROOT Technologies and backed by a plethora of companies including Intertech, Barco, ISD, ECOTEL, Rare Distribution, Masterpiece, Circon, Fremco, and ManageEngine
The funding was enabled by the bank’s program to support Egyptian fintech startups.
For his part, Ahmed Hawash, Chairman of the Damietta Port Authority, states that the port is taking major steps toward becoming a key commercial and logistics hub in the Middle East.
Allam notes that the company focuses on renewable energy projects, including solar and wind energy and green hydrogen.
El-Sisi adds that the feasibility studies proved sufficient black sand reserves and global demand for the extracted metals.
The Ark Development launches its operations in the Egyptian real estate sector with up to EGP 30 bn in investments, Invest-Gate reports.
The real estate sector tops the trading value of the sectors traded on the Egyptian Exchange in August 2022, with a trading value of EGP 7.1 bn and a trading volume of EGP 4.6 bn shares, Invest-Gate reports.
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