Egypt’s Economic Summit
Egypt’s Economic Summit

EU pledges EUR 1bn in aid package for Egypt
The European Union said it is committed to providing a financial aid package worth more than 1
billion euros for Egypt’s economy in various sectors. More than half of the aid package will be in
human and social development including education and healthcare, the EU added. Meanwhile, more
than one third of the aid will go for infrastructure and environment protection. The remaining portion
will be injected in initiatives for economic development, trade and innovation, in addition to human
rights.

Aabar & Palm Hills sign $20bn deal for Egypt project
Egypt’s housing ministry signed a memorandum of understanding with UAE’s real estate developer
Aabar and Egyptian property firm Palm Hills Development (PHD) for a real estate project worth $20
billion. The project, to be named Oasis October, will be built over 10,000 acres in Six of October
City, and will include administrative, commercial and housing units.

Palm Hills Stock Price fluctuations
over 1 year:
El-Sisi, bin Rashid witness agreement signing to build Egypt’s new capital
Egypt’s housing minister Moustafa Madbouly has signed an agreement worth $45 billion with the
UAE to build Egypt’s new administrative business capital. The agreement signing was witnessed by
President Abdel Fattah El-Sisi and UAE’s vice president and prime minister and ruler of Dubai
Sheikh Mohammed bin Rashid Al Maktoum. The new 70,000 acre city will be built on the road to
Ain al-Sokhna, to the east of Cairo. “The Capital Cairo” is deemed to be one of the largest-of-itskind infrastructure development projects in the world. The project will cost $45bn, and will take
between five to seven years to complete.

Heliopolis for Housing and Development proposes Heliopark worth EGP 6bn
Heliopolis for Housing and Development (HCHD) proposed two real estate projects at the
Economic Summit, in New Cairo and Heliopolis City, with an investment cost of EGP 6bn.

4 Egyptian, GCC companies compete for Gamasha Gulf project
Four Egyptian and GCC companies are competing to acquire the Gamasha Gulf project in the Red
Sea. Gamasha Gulf is one of the areas with the most investment opportunities for Egyptian and
GCC investors with a land area of over 8m sqm.
Heliopolis for Housing &
Development stock fluctuations over
a year.

Egypt, Siemens sign $10bn energy deals
Egypt’s electricity ministry signed four MOUs with global energy firm Siemens for energy projects
worth $10 billion. Under the first MOU, a combined power plant will be established in Beni Suef with
a capacity of 11.004 megawatts. Meanwhile, the second memorandum includes establishing five
combined power plants in Noubarya in Beheira governorate, Sidi Kirir in Alexandria, Southern Cairo,
Qena and Kafr El-Dawwar with total capacity of 6,600 megawatts. According to the third MOU, a
large factory will be established to produce manufacturing tools for the wind plants. Under the fourth
memorandum, a power transformer station will be established.

Dana Gas to pump additional $350m in Egypt until 2018
UAE-based energy company Dana Gas PJSC will invest $350m in Egypt over the next 2.5 years, on
top of its normal operating costs. The investment comes after the company reached an agreement
with the Egyptian government guaranteeing the latter would be paid any overdue debts.

*Egypt will recover overdue
payments to Dana Gas by 2016.
Egypt, BP sign $12bn energy deal
Egypt’s oil minister Sherif Ismail signed an agreement worth $12 billion with UK’s British Petroleum
(BP).The deal is for the development of 5 trillion cubic feet of gas resources and 55 million barrels of
condensates in the West Nile Delta.

Italy’s Eni signs $5bn deals over 5 years
Italian oil firm Eni signed heads of agreement with Egypt worth $5 billion over five years which
would generate at least 900 million standard cubic feet of gas.

*The Summit resulted in more than
$ 49 bn discussed and signed
investments in the electricity and
energy sectors.
Sawiris says to launch $500m investments
Egyptian business tycoon Naguib Sawiris said that a total of $500 million worth of investments will
be launched over the few coming period. These investments will include a solar power plant worth
$120 million, in addition to a new production line in a sugar plant at a value of $100 million.

Ministry of Electricity inks $100m deal with Orascom Construction
Egypt's Ministry of Electricity announced Sunday it has signed an agreement with Orascom
Construction Co. to set up solar power plant at total value of $100 million. The power plant will be
with capacity of 50 megawatt and will be established at Kom Ombo, Aswan Governorate, Egypt.

UAE's KBBO plans $2bn investments in Egypt
Abu Dhabi-based KBBO Group is planning to invest $2 billion in key sectors of the Egyptian
economy including but not limited to health, money exchange, waste management, renewable
energy.

GE invests $200m in Egypt
General Electric (GE) Chairman and CEO Jeffrey Immelt announced that GE is investing in a new
$200m multimodal manufacturing, engineering, services and training centre in Egypt.The new
centre will focus on various industries, including power generation, renewables, water, oil & gas,
aviation and rail transportation. The facility is expected to create 500 skilled jobs and help in smalland medium-sized enterprise growth in the technology and energy sector.
Orascom Construction stock
fluctuations over 1 year:

Cooperation Ministry, IDB, sign fund agreement
The Ministry of International Cooperation has signed a funding agreement with the Islamic
Development Bank (IDB) worth $200m to develop the benzoin distillation unit of Assiut refinery.
Minister of Petroleum Sherif Ismail said that the capacity of the refinery will amount to 600,000
tonnes of benzoin annually, expecting the production to begin in 2017.

Omar Al- Futtaim Group to invest more than $ 3.5 bn in Egypt
IDB discussed more than one
project in the Economic summit
including the benzoin distillation
unit of Assiut Refinery, the
Development of Sharm El Sheikh’s
airport, and the Egyptian Saudi
Electricity connection project.
Omar Al-Futtaim group announced during the economic summit that it will invest more than $3.5
billion different diversified projects in Egypt.

UAE’s Al-Futtaim increases its Egypt investments to EGP23bn
Cairo governorate signed a cooperation protocol with UAE’s Majid Al-Futtaim (MAF) for the
establishment of a retail chain in Egypt at a total value of EGP 5 billion. Thus, the company’s total
investments in Egypt will be raised to EGP 23 billion.

GCC states pledge $12.5bn in fresh aid for Egypt
GCC states have pledged $12.5 billion in financial aid for Egypt’s economy. Kuwait have
contributed with $ 4 billion, Saudi Arabia contributed with $ 4 billion, United Arab Emirates have
contributed with $4 billion, and Oman have contributed with $ 500 million.

$500m to be invested by PepsiCo in Egypt in 2015
PepsiCo Egypt is set to invest $500m across all its business units in Egypt in 2015. The investments
will be injected for expanding the company’s portfolio and in the company’s total supply chain
network as well as infrastructure and capacity.

Al-Suwaidan to inject $6bn in logistics center, commercial city
Emirati Company Al-Suwaidan intends to pump investments worth $6bn in a logistics center of
grains and yields in Damietta and a commercial and shopping city in Ain Sokhna.

Kuwait: $ 4 billion
Saudi Arabia : $ 4 billion
Emirates: $ 4 billion
Oman: $ 500 Million
Coca-Cola reveals $500m investment plan in Egypt
Coca-Cola revealed further details about its previously announced commitment to invest $500m in
Egypt within three years. The investment will fund new manufacturing, distribution, sales and
marketing capabilities, which will include the opening of a new bottling facility in 6th of October
City in 2016, while creating additional employment opportunities.
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World Bank offers $400m to Egypt
The World Bank will offer $400m to Egypt to launch programmes to eliminate poverty and to
elevate the standards of living in Egypt.
Coca Cola & PepsiCo to invest
$ 500 mn in Egypt to expand their
portfolio, distribution, sales ,
manufacturing, and the whole
supply chain network

Khalifa Fund activates development loan agreement to Egypt
A loan agreement between the Khalifa Fund for Enterprise Development, the Egyptian Ministry of
International Cooperation and Social Fund for Development has been reintroduced. The agreement
is worth $200m to be invested in Egyptian micro-project developments, following all the legal
procedures in both states.

FourWinds Capital to establish $1bn fund in Egypt
FourWinds Capital Management, the financial services and asset management arm of FourWinds
Group of Companies that it will establish a new $1 billion fund dedicated to infrastructure
investments in Egypt.
Economic Summit Summary as per Sector
Sector
Amount
Housing & Real Estate Projects
$ 68 billion
Electricity projects
$ 21.2 Billion
Energy projects
$ 28 billion
Logistics projects
$ 6 billion
Transportation projects
$ 5.9 billion
Socio-economic projects
$ 3 billion
Tourism projects
$ 12.7 billion
The rest of the amounts will be invested in other types of projects including but
not limited to food & beverage, infrastructure, factories, retail and agriculture.


The total amount of announced investments is $ 145 billion.
The total amount of the signed investments during the summit totaled$ 60 billion.
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Consultants
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Economic Summit Summary as per project & country

The below table summaries most of the investments discussed and/or signed in the summit
Project
Parties Involved
Country
Sector
Amount
Oasis October
Palm Hills & Abar
UAE
Real Estate
$ 20 bn
Power Plants
Siemens
Germany
Energy
$ 10 bn
Retail
Majid al Futtaim Group
UAE
Retail
$ 700 mn
Diversified projects
Omar AL Futtaim group
UAE
Diversified
$ 3.5 bn
Gas project
British Petroleum
United Kingdom
Energy
$ 12 bn
Cairo's New Capital
UAE
UAE
Real Estate
$ 45 bn
Gas project
ENI
Italy
Energy
$ 5 bn
Solar power and other projects
Orascom Construction
Egypt
Energy & Other
$ 500 mn
Manufacturing & supply chain
Coca Cola
United States
Food & Beverage
$ 500 mn
Manufacturing & supply chain
PepsiCo
United States
Food & Beverage
$ 500 mn
Manufacturing
General Electric
United States
Engineering
$ 200 mn
Energy project
Dana Gas
UAE
Energy
$ 350 mn
A Logistics center
UAE
Logistics
$ 6 bn
Real Estate projects
Al Suwaidan
Heliopolis for Housing and
Development
Egypt
Real Estate
$ 800 mn
benzoin distillation unit
Islamic Development Bank
Saudi Arabia
Energy
$ 200 mn
Poverty Elimination projects
Sharm El Sheikh Airport
Development
Egyptian-Saudi Electricity
Connection
World Bank
N/A
Socio-Economic
$ 400 mn
Islamic development bank
Saudi Arabia
Transportation
$ 227 mn
Islamic development bank
Saudi Arabia
Saudi Arabia
$ 800 mn
Petroleum Projects
Islamic development bank
Saudi Arabia
Saudi Arabia
$ 3.5 bn
Logistics project
DHL
Germany
Logistics
$ 500 mn
Energy
Kuwait Energy
Kuwait
Energy
Mutual agreement
Power Project
ACWA Power
Saudi Arabia
Mutual agreement
Loans & General investments
Saudi Arabia
Saudi Arabia
Loans & General investments
Kuwait
Kuwait
Loans & General investments
UAE
UAE
Loans & General investments
Oman
Oman
Electricity
Loans & General
investments
Loans & General
investments
Loans & General
investments
Loans & General
investments
$ 4bn
$ 4 bn
$ 4 bn
$ 500 mn