news

» UAE-led consortium completes New Suez Canal

An international consortium led by UAE-based National marine Dredging Company (NMDC) has completed the New Suez Canal Project in Egypt.

The $1.5bn (EGP11.75bn) project was undertaken by the Challenge Consortium, an NMDC-led collaboration that also included Boskalis, Van Oord, and Jan de Nul. News of the completion was announced following a successful trial run of the canal, which took place on 25 July, 2015.

New-Suez-Canal-Project

MS Africa News

» Egypt's Ministry of Trade & Industry will establish a city for furniture manufacturing in Damietta.

Egypt’s Ministry of Trade & Industry will establish a city for furniture manufacturing in Damietta, 15km from the Mediterranean Sea, and 200km north of Cairo, it was recently announced.

Mounir Fakhry Abdel Nour, Egypt’s minister for trade & industry announced the city will span an area of 1.4sqm (331 feddan; 1 feddan = 0.42ha), and that the ministry is working to ensure speedy construction of the project, local daily Amwal Alghad reported.

damietta-egypt

MS Africa News

» Suez Canal $78m power plant set for 2016 delivery

Egypt-based Arab Contractors will finalise works on a new $78.7m (EGP600m) Suez power plant early next year, it was announced. 

The plant, due for operation in the beginning of 2016, is a part of the Egyptian government’s five-year scheme.

Suez-Canal

MS Africa News

» Africa creates TFTA - Cape to Cairo free-trade zone

African leaders have agreed to create the continent’s largest free-trade zone, covering 26 countries in an area from Cape Town to Cairo.

The deal, signed in Egypt, is intended to ease the movement of goods across member countries which represent more than half the continent’s GDP.

_83536381_truck_afp

MS Africa News

» Egypt Vox Cinemas complex worth $65.5m, MAF says

Property developer Majid Al Futtaim will build four neighbourhood centres in Cairo’s new residential cities, and four shopping malls in greater Cairo as a part of its $3bn (EGP22.5bn) investment in the country.

Abdalla El Nockrashy, Egypt country head at Majid Al Futtaim Properties told Construction Week that $65.5m (EGP500m) will be allocated to introduce the country’s first Vox Cinemas complex within the next five years.

Abdalla-El-Nockrashy-Egypt-

MS Africa News

» Special focus – Construction market in Mozambique, Ghana, Ethiopia

Mozambique is a country of only 23 million people in the center-south of the African continent. Yet for the past few years the country has often been among the preferred destinations of system-missions from Italy. 

The reason, of course, is oil: the Mamba Eni area has discovered its largest gas field. However, when one country becomes interested in another for its energy resources, things start with them but inevitably bring along a broader package of undertakings, with the infrastructure sector in the front line.

Real-estate-and-Construction

MS Africa News

» Abraj Misr launches $196.6m 'The Shore' in Egypt

Abraj Misr, an Egypt-based property developer, launched a resort project worth $196.6m (EGP1.5bn) for construction in the country’s Ras El Hekma area.

Ras El Hekma lies on Egypt’s northern, Mediterranean coast,  260 km west of Alexandria. The nearest airport of note is at Marsa Matruh, 60 km to the west. The Shore project spans an estimated area of 72ha (180 acres).

_ras-el-hekma-beach-the-hea

MS Africa News

» Egypt signs $2.2bn of transport, ports deals

Egypt has signed several agreements with international firms covering ports and transport projects worth a combined $2.2bn.

These include a pair of deals with China’s AVIC International Holding Co worth $500m which will see the company build trains in Egypt, and an MoU to build a railway line with electric trains running from Alexandria to Abu Qir with Italian firm Trenitalia.

Egypt-DP-World

MS Africa News

» Egypt’s new capital will be solar powered, says housing minister

 Egypt plans to build a new administrative capital east of Cairo within the next seven years costing the equivalent of 43 billion euros.

The country’s housing minister Mostafa Madboul told an international investment summit in Sharm el-Sheik that the plans for the new city includes an airport and one million housing units.

MS Africa News

» SOM to design new Egyptian capital city

US-based design firm Skidmore, Owings & Merrill LLP (SOM) says Egypt’s new $45bn capital city will be designed and built to meet the needs of a modern city with a burgeoning economy.

Announced during the Egyptian Economic Development Conference held in Sharm El Sheikh, the Capital Cairo project is a collaborative effort between Egyptian Ministry of Housing and Capital City Partners Ltd, a private fund of global investors with input from SOM.

Cairo_07

MS Africa News

» Egypt's ASEC to help run Ethiopian cement plant

ASEC Engineering, part of Egypt’s Qalaa Holdings empire, has won a deal to provide technical assistance and for the operation and maintenance of a plant in Ethiopia.

The company has signed a one-year contract, which is renewable for a period of up to five years, to help manage a one million tonne capacity clinker plant for the National Cement Share Company (NCSC) in the city of Dire Dawa, around 450km east of the capital Addis Ababa.

Cement-emissions

MS Africa News