Latest news with #EzzSteel
Zawya
18-06-2025
- Business
- Zawya
DP World Egypt receives LNG vessel, mega iron ore shipment
DP World Egypt announced on Wednesday that it received a Floating Storage Regasification Unit (FSRU), the country's largest iron ore shipment and the Aroya cruise ship this month at its Ain Sokhna Port, showcasing its ability to manage diverse vessel types while advancing Egypt's trade, energy and tourism goals. Energos Eskimo, a Floating Storage Regasification Unit (FSRU) operated by New Fortress Energy (NFE), docked at the Sokhna facility for a series of specialised technical upgrades, including modifications to its high-pressure gas manifold in preparation for its forthcoming call at SUMED Port, where it will begin injecting natural gas into Egypt's national grid. The Port also welcomed the Berge Kuju, a 300-metre dry bulk vessel arriving from Brazil with 180,008 tonnes of iron ore destined for Ezz Steel, marking the largest iron ore shipment ever received at an Egyptian port. The delivery forms part of a long-term strategic agreement and supports more than 6 million tonnes of annual iron ore throughput at Sokhna. Sokhna Port also welcomed the Aroya cruise ship with 2,300 passengers, on its second scheduled visit under an annual agreement with Cruise Saudi. 'DP World Egypt continues to prove its ability to manage diverse vessel types with efficiency and precision, from LNG carriers and dry bulk ships to cruise liners," said Mohammad Shihab, Chief Executive Officer, DP World Egypt "Sokhna Port's strategic location and advanced infrastructure make it a vital connector between Egypt, East and North Africa, Asia and beyond, supporting both trade flows and the country's economic development goals.' DP World Sokhna is currently implementing the $80 million Sokhna Logistics Park project.
Zawya
18-06-2025
- Business
- Zawya
DP World Egypt receives LNG vessel and mega iron ore shipment
DP World Egypt announced on Wedesday that it received a Floating Storage Regasification Unit (FSRU), the country's largest iron ore shipment and the Aroya cruise ship this month at its Ain Sokhna Port, showcasing its ability to manage diverse vessel types while advancing Egypt's trade, energy and tourism goals. Energos Eskimo, a Floating Storage Regasification Unit (FSRU) operated by New Fortress Energy (NFE), docked at the Sokhna facility for a series of specialised technical upgrades, including modifications to its high-pressure gas manifold in preparation for its forthcoming call at SUMED Port, where it will begin injecting natural gas into Egypt's national grid. The Port also welcomed the Berge Kuju, a 300-metre dry bulk vessel arriving from Brazil with 180,008 tonnes of iron ore destined for Ezz Steel, marking the largest iron ore shipment ever received at an Egyptian port. The delivery forms part of a long-term strategic agreement and supports more than 6 million tonnes of annual iron ore throughput at Sokhna. Sokhna Port also welcomed the Aroya cruise ship with 2,300 passengers, on its second scheduled visit under an annual agreement with Cruise Saudi. 'DP World Egypt continues to prove its ability to manage diverse vessel types with efficiency and precision, from LNG carriers and dry bulk ships to cruise liners," said Mohammad Shihab, Chief Executive Officer, DP World Egypt "Sokhna Port's strategic location and advanced infrastructure make it a vital connector between Egypt, East and North Africa, Asia and beyond, supporting both trade flows and the country's economic development goals.' DP World Sokhna is currently implementing the $80 million Sokhna Logistics Park project. (Writing by Marwa Abo Almajd; Editing by Anoop Menon)
Zawya
11-06-2025
- Business
- Zawya
EBRD backs Egypt's first private-to-private electricity contracts
Egypt has taken a significant step towards energy market liberalisation with the approval of its first private-to-private (P2P) electricity contracts. Under a new pilot scheme, developed with technical support from the European Bank for Reconstruction and Development (EBRD), four renewable energy projects with a combined capacity of 400 MW have been granted permission to sell electricity directly to industrial consumers. The pilot follows the introduction of new P2P regulations, jointly developed by the EBRD and the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA), and approved last year. These rules allow private electricity generators to supply power directly to consumers using the national grid, marking a departure from Egypt's longstanding single-buyer model. The four approved projects under the scheme are: KarmSolar, which will build a 100 MW solar plant to supply electricity to Suez Steel; AMEA Power, which is constructing a 100 MW solar facility to serve BEFAR Group and the Suez Canal Container Terminal; TAQA PV, which will install a 100 MW hybrid system combining solar and wind to power operations at Ezz Steel; and Enara, which is developing a hybrid plant to deliver 100 MW to El Alamein Silicone Products Company and Helwan Fertilisers. The introduction of P2P rules is a major milestone in implementing the 2015 Electricity Law, which set Egypt on a path toward a competitive and liberalised electricity market. By enabling private generators to contract directly with consumers, the new framework fosters competition, broadens consumer choice, and creates new investment opportunities in renewable energy. The move is also seen as a practical solution for expanding electricity generation without relying on state-funded contracts. All electricity under these agreements will be generated and financed by the private sector, reducing fiscal pressure while accelerating the country's green energy transition. 'This milestone shows how the right regulatory framework can unlock private investment and drive the energy transition,' said Mark Davis, EBRD Managing Director for the Southern and Eastern Mediterranean region. 'By enabling companies to procure green electricity directly from producers, Egypt is opening new opportunities for industry and enhancing its competitiveness. We are proud to have supported EgyptERA in designing this pioneering scheme and will continue working closely as projects move towards implementation.' Mohamed Mousa Omran, Chairperson of EgyptERA, also welcomed the development: 'This pilot marks an important step towards a more competitive electricity market in Egypt. By enabling direct agreements between producers and consumers, we are creating space for the private sector to play a greater role in meeting the growing demand for clean energy. This is essential for accelerating the deployment of renewables at scale and achieving our long-term energy goals.' The EBRD's support for EgyptERA was made possible through funding from the Swiss State Secretariat for Economic Affairs (SECO), a longstanding partner in the Bank's policy engagement efforts across the region. The initiative is part of the EBRD's Renewable Energy Programme, which currently supports 16 countries in developing market-based frameworks to attract private investment in clean energy. To date, the programme has supported the award of over 8,500 MW of renewable energy capacity across eight countries, reinforcing the EBRD's role as a key enabler of the global energy transition.
Zawya
13-02-2025
- Business
- Zawya
Ezz Steel records over $878mln block trading deal
Ezz Steel recorded a block-trading deal at a value of EGP 44.571 billion, the Egyptian Exchange (EGX) announced in a bourse disclosure on February 13th. The transaction was implemented on 333.86 million shares. Ezz Steel is an Egypt-based manufacturer and trader of steel and related products. Together with its subsidiaries, the company is engaged in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
30-01-2025
- Business
- Egypt Today
EGX completes semi-annual review, reveals 26 moves across main 4 indices
Cairo – January 30, 2025: The Egyptian Exchange (EGX) has announced the results of its semi-annual review of market indices, bringing in new companies into its benchmark index EGX 30. Orascom Development, RAMEDA, EgyptAlum, Ibn Sina Pharma, Qalaa Holdings, and EIPICO have all been added to the index, according to a statement released by the stock market. These six companies will replace six previous constituents: Ezz Steel, B Investments, Faisal Islamic Bank of Egypt, Cleopatra Hospitals, Elsewedy Electric, and Heliopolis Housing. The changes, effective from February 1, 2025, aim to reflect the evolving dynamics of Egypt's economy and stock market, providing investors with updated benchmarks for trading. Elsewedy Electric and Ezz Steel's exits were expected with most of Elsewedy's free float shares acquired by Abu Dhabi-based Electra Investment Holding in July, reducing its presence on the bourse, and Ezz Steel moving forward with its voluntary delisting, a decision made after shareholders agreed earlier this week. In addition to the changes in the EGX30; EGX 70, EGX 100, and the newly launched shariah-compliant EGX 33 index also saw some reshuffling. The EGX70 EWI (Equally Weighted Index) saw the addition of 6 new companies, while 6 others were removed, bringing the total number of changes to 17 across the EGX 30 and EGX 70 indices. The EGX 100 EWI experienced changes with the addition and removal of 14 companies. The new additions to the EGX 33 include Delta Sugar, Lecico, Misr National Steel, Egyptian Resorts Company, Icon, Taqa Arabia, and Dice. These companies will replace Elsewedy Electric, Raya Holdings, AMOC, GB Corp, Abu Qir Fertilizers, Egyptian Financial & Industrial, and Gemma on the EGX 33. The semi-annual review highlights the bourse's ongoing efforts to keep its indices aligned with the most active and liquid companies in the market.
