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Castle Development inks MoU with Schneider Electric for energy management solutions
17 - Mon - Feb - 2020
Castle Development inks MoU with Schneider Electric for energy management solutions
Castle Development signed a memorandum of understanding (MoU) with Schneider Electric Egypt to provide energy management and automation solutions to its Castle Landmark project in the New Administrative Capital.Schneider Electric Egypt will provide innovative solutions for energy management and eco-friendly power products at Castle Development’s…
Mohandes Insurance’s shareholders approve capital raise via bonus issue
17 - Mon - Feb - 2020
Mohandes Insurance’s shareholders approve capital raise via bonus issue
The shareholders of Mohandes Insurance approved a proposal to increase the company’s capital to EGP 187.5 million from EGP 150 million through a bonus issue.The company’s ordinary general meeting (OGM) gave the green light to using EGP 27.35 million from reserves (exchange gain) and EGP 10.14 million…
Sheeni’s losses balloon 42% in H1-19/20
17 - Mon - Feb - 2020
Sheeni’s losses balloon 42% in H1-19/20
The financial statements of the General Company for Ceramic and Porcelain Products (Sheeni) reported a 42% year-on-year rise in its net losses during the first half of fiscal year 2019/2020.Sheeni incurred net losses of EGP 13.19 million in the six-month period ended 31 December 2019, compared to…
Rashpetco, Burullus Gas plan to invest $167m in FY19/20
17 - Mon - Feb - 2020
Rashpetco, Burullus Gas plan to invest $167m in FY19/20
Rashid Petroleum (Rashpetco) and Burullus Gas Company plan to inject investments worth $167 million during fiscal year 2019/2020, chairman of the two companies Sabry El-Sharkawy said.Drilling is underway at the Montu well with an initial cost of $99 million, El-Sharkawy added in a statement released…
Orascom Development to develop int’l school with EGP 500m investments
17 - Mon - Feb - 2020
Orascom Development to develop int’l school with EGP 500m investments
Orascom Development Egypt signed an agreement to develop an international school in its O West project in 6th of October City.With an investment cost of EGP 500 million, the new school is planned to hold 1,500 students, employ 400 employees, and feature 70 classrooms, the company…