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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

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    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

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    $36mln contract for construction of Duqm fisheries complex

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    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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      Profits at top Saudi banks jump 17.6% in Q1

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      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

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      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

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      $36mln contract for construction of Duqm fisheries complex

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      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

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      Madayn working on major Oman industrial city projects

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      Foundation stone laid for new 700-bed hospital is Salalah, Oman

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        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

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        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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        JGC lands $3.7bn Iraq refinery upgradation project deal

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          Coronavirus: UAE conducting human trials for Covid-19 vaccine

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE sends medical aid to Iraq to fight COVID-19

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

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            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Top 10 listed companies in the Middle East

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            • CES 2017
            • Election Results
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            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
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              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Egypt seeks $24 billion investment in power projects

              Zawya

              March 1, 2016
              in Infrastructure, Power & Electricity, Renewable Energy
              0

              Egypt is studying new energy pricing structures to facilitate private sector investment in power projects worth USD 70 billion that are expected to be carried out in the next six years, a government advisor said.

              Sherif Atifa, advisor to the investment ministry, told Zawya that Egypt hopes to attract investment of USD 24 billion in the planned power projects that aim to resolve frequent electricity shortages and support economic development in the Arab world's most populous country.

              "The flow of investment in power projects in Egypt is strongly linked to the existence of a fair structure for pricing services to ensure that there is a return on investment. Investors have concerns that we fully understand and appreciate, and we are working with them to come out with realistic solutions," he said.

              "We are working on enacting legislative reforms to investment laws and we are also studying various funding models and putting in place a price structure for selling services."

              Egypt needs to increase its average power production by 5.2 gigawatts (GW) per year by 2022 to keep up with demand. The country's energy mix is largely dependent on oil and gas at 91%, with hydroelectric power providing just 8%, according to data from the Ministry of Electricity and Renewable Energy.

              Last year, the electricity ministry said 24 agreements and memorandums of understanding (MOU) for energy projects worth around USD 70 billion had been signed at an investment conference in Sharm El Sheikh, including projects for electricity generation, transmission lines, power plant expansions and renewable energy projects utilizing solar, wind and coal.

              Atifa said there have been delays in implementing most MOUs for renewable energy projects due to negotiations related to the setting of prices for the sale of electricity to consumers, and on whether services should be sold directly to consumers or through the government.
               
              Subsidy reforms
              In 2014, Egypt said it plans to gradually reform the country's energy subsidy policies and that energy prices would be fully liberalized by 2019 under a five-year plan to cover much-needed capacity expansions at power plants. The 2015-2016 state budget has allocated USD 3 billion in energy subsidies.

              The reform plan includes an increase in electricity prices, except on residential consumers using less than 200 kilowatt per hour a month, as tariffs have been frozen for this category to protect households with low income.

              Mohammad Shoeib, managing director of Al Qalaa Holdings, said that transparency and liberalization of prices are the most important guarantees to sustain the flow of investments to the energy sector.

              "The Egyptian government cannot continue to be the only player in developing power projects," he told Zawya. "This is a burden that it cannot bear for long in light of its inability to repay the investment returns to companies that have constructed power plants, which eventually led to a deficit in energy production."

              Gas shortages and ageing state-run infrastructure have led to frequent power outages in Egypt, especially during the summer months when demand is high and electric grids are overloaded by more than 3,000 megawatt (MW), according to the electricity ministry.

              Last September, Minister of Electricity and Renewable Energy Mohamed Shaker told Daily News Egypt that the country planned to add 14,400 MW to the national grid within two years through three new power plants under an agreement with German industrial company Siemens. The minister was quoted as saying that the projects represent around 40% of total capacity of the electricity grid.

              In June 2015, Siemens signed a USD9 billion agreement with Egypt to supply gas and wind power plants to boost the country's electricity generation by 50%. The order includes 12 wind farms in the Gulf of Suez and West Nile areas, comprising about 600 wind turbines and an installed capacity of 2 GW.

              Renewable energy
              Government advisor Atifa said that Egypt hoped to increase the contribution of renewables in the energy mix to 20% by 2022 from 8-9% now. He said that total investments in renewable energy projects currently being implemented stand at more than USD 13 billion.

              The chairman of the New and Renewable Energy Authority (NREA), Mohamed El Sobky, said that under the six-year plan to 2022, the contribution of wind power is expected to reach 12% and that there would also be an expansion in hydropower energy capacity.
               
              El Sobky said the NREA is working on some solar and wind power projects in the Suez Canal area as part of efforts to promote a fair geographic distribution of projects. He said there are targets to generate 2,300 MW of solar energy in 2016.

              "Egypt is counting on the power linking project with Saudi Arabia to increase the capacity of its electric grid. An international call for proposals (for the project) is expected this year with investments of about USD 1.6 billion," he told Zawya.

              The Egyptian daily Amwal AlGhad reported in January that the Egyptian cabinet had approved a USD 98 million loan agreement with Kuwait Fund for Arab Economic Development (KFAED) to help finance the Egyptian section of the power link project with Saudi Arabia.
              Zawya
              1 March
               

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