Mohamed Farag

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Latest by Mohamed Farag


Oil company IPOs to be held in Egyptian, international stock exchanges: El Molla

The Ministry of Petroleum and Mineral Resources introduced a list including eight petroleum and petrochemical companies to the Ministry of Investment and ICapital—a National Investment Bank company and coordinator of the IPOs programme—to be in charge of offering part of their shares or increasing their capitals through the Egyptian Exchange (EGX). Minister of Petroleum Tarek …

Mohamed Farag

NREA recovers lands of feed-in tariff projects from 5 withdrawing companies

The New and Renewable Energy Authority (NREA) has recovered the lands of the solar energy projects in Banban, Aswan from five companies that have withdrawn from implementing the project. Sources in the NREA said that the authority has recovered 5 sqkm from Abdul Latif Jameel Company, Enel Green Power, Cairo Solar, Orascom Telecom, and Triangle. …

Mohamed Farag

Government considers 4 scenarios for future provision of electricity subsidies

The government is considering four scenarios for the future provision of electricity subsidies, on the back of liberating the Egyptian pound and the surge in fuel prices. Government sources said that the first scenario involves the complete amalgamation of subsidies starting from the fiscal year (FY) of 2018/2019, especially as citizens will not tolerate any …

Mohamed Farag

Siemens to start operation tests of Borollos power plant Tuesday

German company Siemens is set to start the trial operations of Borollos power plant on Tuesday. A source at the Ministry of Electricity said that the ministry will provide Siemens with the electric capacity to run and test the plant by connecting it with Abu Qir power plant at a capacity of 500 KV to …

Mohamed Farag