1st of October, 2012
Egypt Signs a Treaty for EGP 1.4 Billion to Finance EGPC Under Islamic Murabaha Structure
Keywords: Infrastructure & Projects, Commercial
This week, on Monday 1 October, 2012, Egypt signed a treaty under which the International Islamic Foundation, member of the Islamic Development Bank Group, would provide EGP 1.4 billion finance to the Egyptian Petroleum Company (EGPC) on the basis of a Murabaha structure.
Moreover, the Minister of Finance confirmed that the government does not intend to postpone the reduction of energy subsidies until after the parliamentary elections. Studies show that 40% of persons benefiting from the energy subsidies are not in actual need of it, a matter the government is keen to change without affecting the position of low-income persons.
New incentives for the renewable energy sector by the Supreme Council for Energy.
The Supreme Council for Energy (the “Council”) has issued new incentives for the solar and wind investments, to support investments in renewable energy. The Council decided to exempt the spare parts used in the production of electricity from solar power and wind from both taxes and customs. In addition, the Council will allocate plots of land belonging to the Renewable Energy Authority to private sector companies working in this field to establish projects for producing and selling electricity.
Indian Investment in Egypt continues to rise
Sanmar Chemicals company, the largest Indian investor in Egypt, expands its businesses and line of production in Egypt by USD 200 million. Sanmar Chemicals’ investments in Egypt exceed the amount of USD 1 billion. Minister of Investment announced the collaboration between Egypt and India in the near future, with more investments to come, particularly in the fields of technology, medicine, engineering, and textiles industries.
Moreover, the Minister of Finance confirmed that the government does not intend to postpone the reduction of energy subsidies until after the parliamentary elections. Studies show that 40% of persons benefiting from the energy subsidies are not in actual need of it, a matter the government is keen to change without affecting the position of low-income persons.
New incentives for the renewable energy sector by the Supreme Council for Energy.
The Supreme Council for Energy (the “Council”) has issued new incentives for the solar and wind investments, to support investments in renewable energy. The Council decided to exempt the spare parts used in the production of electricity from solar power and wind from both taxes and customs. In addition, the Council will allocate plots of land belonging to the Renewable Energy Authority to private sector companies working in this field to establish projects for producing and selling electricity.
Indian Investment in Egypt continues to rise
Sanmar Chemicals company, the largest Indian investor in Egypt, expands its businesses and line of production in Egypt by USD 200 million. Sanmar Chemicals’ investments in Egypt exceed the amount of USD 1 billion. Minister of Investment announced the collaboration between Egypt and India in the near future, with more investments to come, particularly in the fields of technology, medicine, engineering, and textiles industries.
Egypt Signs a Treaty for EGP 1.4 Billion to Finance EGPC Under Islamic Murabaha Structure
1 October, 2012
Keywords: Infrastructure & Projects, Commercial
This week, on Monday 1 October, 2012, Egypt signed a treaty under which the International Islamic Foundation, member of the Islamic Development Bank Group, would provide EGP 1.4 billion finance to the Egyptian Petroleum Company (EGPC) on the basis of a Murabaha structure.
Moreover, the Minister of Finance confirmed that the government does not intend to postpone the reduction of energy subsidies until after the parliamentary elections. Studies show that 40% of persons benefiting from the energy subsidies are not in actual need of it, a matter the government is keen to change without affecting the position of low-income persons.
New incentives for the renewable energy sector by the Supreme Council for Energy.
The Supreme Council for Energy (the “Council”) has issued new incentives for the solar and wind investments, to support investments in renewable energy. The Council decided to exempt the spare parts used in the production of electricity from solar power and wind from both taxes and customs. In addition, the Council will allocate plots of land belonging to the Renewable Energy Authority to private sector companies working in this field to establish projects for producing and selling electricity.
Indian Investment in Egypt continues to rise
Sanmar Chemicals company, the largest Indian investor in Egypt, expands its businesses and line of production in Egypt by USD 200 million. Sanmar Chemicals’ investments in Egypt exceed the amount of USD 1 billion. Minister of Investment announced the collaboration between Egypt and India in the near future, with more investments to come, particularly in the fields of technology, medicine, engineering, and textiles industries.
Moreover, the Minister of Finance confirmed that the government does not intend to postpone the reduction of energy subsidies until after the parliamentary elections. Studies show that 40% of persons benefiting from the energy subsidies are not in actual need of it, a matter the government is keen to change without affecting the position of low-income persons.
New incentives for the renewable energy sector by the Supreme Council for Energy.
The Supreme Council for Energy (the “Council”) has issued new incentives for the solar and wind investments, to support investments in renewable energy. The Council decided to exempt the spare parts used in the production of electricity from solar power and wind from both taxes and customs. In addition, the Council will allocate plots of land belonging to the Renewable Energy Authority to private sector companies working in this field to establish projects for producing and selling electricity.
Indian Investment in Egypt continues to rise
Sanmar Chemicals company, the largest Indian investor in Egypt, expands its businesses and line of production in Egypt by USD 200 million. Sanmar Chemicals’ investments in Egypt exceed the amount of USD 1 billion. Minister of Investment announced the collaboration between Egypt and India in the near future, with more investments to come, particularly in the fields of technology, medicine, engineering, and textiles industries.
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