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EGYTRANS is the first Egyptian company to own and operate a hydraulic winch with 100% Egyptian arms to put the turbine and boiler at the West Cairo station on their bases

Morning Talks
For our top talks today, we need to mention that “EGYTRANS” is the first Egyptian company to own and operate a hydraulic winch with 100% Egyptian arms to put the turbine and boiler at the West Cairo station on their bases. The Egyptian Company for Transport and Trade Services “EGYTRANS” recently moved and raised the turbines and electric generator of the West Cairo power station. It is noteworthy that this is the first time in Egypt for this type of operation, as this operation was carried out by a 100% Egyptian team. EGYTRANS used hydraulic winch system which was designed and manufactured by ANRPAC, assembled and operated by EGYTRANS team. Also, it is worth mentioning that EGYTRANS is a company specialized in transporting ultra-high-tonnage parcels, all logistics services and sea freight.
  1. Also, Egypt’s total electricity projects being implemented in Africa exceed 3 billion USD, according to Minister of Electricity and Renewable Energy,
    Mohamed Shaker. This includes the project to raise the capacity of the electrical interconnection line between Egypt and Sudan to 240 to 300 megawatts, at a cost of about 452 million EGP. The Egyptian government is attaching a great importance to strengthening cooperation in the field of electricity and energy with African countries.

  2. And for our COVID-19 vaccine watch, a new shipment of 4.4 million doses of the Chinese Sinopharm COVID-19 vaccine arrived in Cairo on September 29th,
    according to a statement by the Ministry of Health. Additionally, around 1 million doses of Sinovac vaccines landed during the week, alongside raw materials for the local production of 4.6 million Sinovac shots, as part of the agreement between Sinovac and state-owned vaccine maker Vacsera. Vacsera is set to open the second production line at its Agouza facility in the coming 5-6 weeks, which will double its daily production capacity to 1 million doses.

  3. Moving to our M&As and companies talks, first, EFG Hermes (HRHO) is in talks to acquire a stake in the Spain-based power generation company Ignis Energia.
    The Egyptian financial group seeks to purchase up to 45%-49% of Ignis. The transaction would be carried out through a capital increase valuing Ignis at nearly 1 billion EUR (1.16 billion USD). Ignis is a privately-held Spanish company that operates solar and gas power plants with a total capacity of 2.9 gigawatts (GW) and has renewable energy projects for a total capacity of 14 GW in the pipeline. (Source: Reuters reported, citing Expansion newspaper)

  4. Second, Raydan Foods Company has signed a commercial franchise contract with Al-Raya Company for Restaurants Ltd in Egypt.
    The contract includes granting the right to a commercial franchise in Egypt and converting the branches of the subsidiary company into branches of a commercial franchise. The value of the deal amounts to 7 million EGP, including commercial franchise fees of 500,000 EGP to be paid once and 800,000 EGP as franchise revenue for the first year of the contract as well as the value of the assets owned by the subsidiary. The 10-year renewable deal is expected to have a positive impact on the company’s financial results for the fourth quarter of 2021. (Source: The Saudi firm said in a bourse disclosure on Thursday)

  5. In the same fashion, Drive, a subsidiary of GB Auto (AUTO), is targeting expansion across the governorates of Egypt in providing financing services and expanding its customers’ base in the auto financing activities.
    The company aims at opening four new branches in the first quarter of 2022. The expansion will focus on the governates that need more financing services such as the Nile Delta, Greater Cairo, and Upper Egypt. (Source: Al Borsa Newspaper)

  6. Equally important, Orascom Pyramids, a subsidiary of Orascom Investment Holding (OIH), has signed a contract worth EGP 170 million with Orascom Construction Plc (ORAS).
    Under the contract, Orascom Construction will handle renovations works to boost the efficiency of buildings at the pyramids of Giza area where the sound and light show takes place. This comes within the framework of the cooperation between the Supreme Council of Antiquities (SCA) and Orascom Pyramids, the main developer and manager of the project. It is worth noting that OIH previously signed a nine-year term loan agreement with the National Bank of Egypt (NBE) at a value of 311 million EGP to finance the development of the sound and light show project at the Pyramids of Giza. (Source: Hapi Journal)

  7. Moreover, Egyptian Iron and Steel (HADISOLB) (IRON) announced that there are no new updates regarding the offer submitted by Ukraine's Vazhmash to rehabilitate and develop HADISOLB.
    Moreover, the company revealed that some assets are currently being evaluated to be sold to Iron and Steel for Mines and Quarries (ISMQ). Proceeds from this sale transaction will be received as a guarantee for the rights of creditors and workers. (Source: According to a statement filed to the EGX)

  8. By the same token, Misr Chemical Industries Company (MICH) announced that its board of directors has approved the financial statements and business reports for the period starting July 1st until August 31, 2021.
    The financial statements showed that the company achieved a net profit of 33.21 million EGP in the July-August period of 2021, compared to a profit of 28.014 million EGP in the year-ago period. The company’s net profit came higher than the targeted profit for the period of 17.967 million EGP. (Source: According to a statement filled to the EGX)

  9. Finally, for our EGX talks, Egypt's e-payments and fintech platform E-Finance has set the price range for its planned initial public offering (IPO) between 12.50 and 13.98  EGP per share.
    E-Finance intends to offer 80,000,000 shares of the current shares in a secondary offering on the EGX, and implement the public offering in the primary market for 177,777,778 ordinary shares, equivalent to a total 14.5% of the company's capital shares. The expected offering will be implemented through two tranches, one of which is a private placement for financial institutions from several markets, including the Egyptian market, and the other is a public offering for individual investors in the Egyptian market. (Source: Al-Mal)

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