logo

Egypt: TAQA Arabia, GTEZ ink cooperation protocol for Safaga City industrial zone utilities

Zawya27-01-2025
TAQA Arabia has signed a cooperation protocol with the Golden Triangle Economic Zone Authority (GTEZ) for the provision of essential utilities to investors in the 9.1 industrial zone in Safaga City, located within Egypt's golden triangle, as per a disclosure.
The collaboration aligns with Egypt's strategy to drive development and attract both local and international investments, with a focus on sustainable development and value-added projects.
Under the agreement, the two parties will work together to implement the necessary infrastructure for the industrial zone, which includes establishing electricity networks using both conventional and renewable energy sources, constructing natural gas distribution networks via the national grid or compressed natural gas solutions, and providing water for industrial and agricultural use.
Additionally, they will implement sewage and industrial networks, as well as facilities for distributing petroleum products and waste management to support long-term sustainability.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egypt's Elsewedy Electric partners with GTEZ to develop new industrial hub in Golden Triangle
Egypt's Elsewedy Electric partners with GTEZ to develop new industrial hub in Golden Triangle

Zawya

time12-08-2025

  • Zawya

Egypt's Elsewedy Electric partners with GTEZ to develop new industrial hub in Golden Triangle

Egypt - The Golden Triangle Economic Zone (GTEZ) has signed a memorandum of understanding (MoU) with Elsewedy Electric, a leading energy solutions provider and industrial developer, to create a fully integrated, sustainable industrial and logistics hub in the Safaga Industrial Zone. This new development, part of Egypt's Golden Triangle Economic Zone in the Red Sea Governorate, aims to boost industrial growth and regional development in Upper Egypt. The MoU was signed by Ahmed El Sewedy, CEO and Managing Director of Elsewedy Electric, and Mohamed Abady, Chairperson of GTEZ. Under the agreement, the two entities will establish a joint-stock company to oversee the development of the industrial zone, which will meet international standards and host a range of industries, including mining, engineering, manufacturing, chemicals, food production, and more. The new industrial hub is expected to attract both local and foreign investments, create thousands of jobs, and significantly enhance Upper Egypt's contribution to Egypt's national industrial output. The GTEZ has granted the project company the rights to manage all stages of the project, from construction to operation, ensuring the use of advanced technologies and sustainable practices. In a related move earlier this year, TAQA Arabia signed a protocol with GTEZ to enhance the infrastructure of the industrial zone. This includes establishing energy networks, both conventional and renewable, as well as natural gas distribution, water services for industrial and agricultural needs, and advanced drainage systems. Mohamed Abady described the project as a strategic national initiative designed to optimize Egypt's resources, promote sustainable development, and prioritize investment in human capital. 'The Safaga Industrial Zone will serve as a modern industrial and logistics hub, strategically located near Safaga Port. Our collaboration with Elsewedy Electric is focused on providing state-of-the-art infrastructure, improving supply chain flexibility, and enhancing logistics capabilities to support exports to Africa, Europe, and the Middle East,' Abady added. For his part, Ahmed El Sewedy highlighted that this project is a natural extension of Elsewedy Electric's commitment to developing cutting-edge industrial infrastructure that aligns with Egypt's economic vision. 'Our goal is to strengthen Egypt's supply chains, increase exports, and foster balanced regional development. This partnership will create a smart, investor-friendly industrial zone that generates sustainable jobs for future generations,' El Sewedy stated. Since its establishment in 2017 by a presidential decree, the Golden Triangle Economic Zone has been a critical project under Egypt's Vision 2030, designed to drive economic growth in southern Upper Egypt through a public-private partnership (PPP) model. The new partnership with Elsewedy Electric will be a key driver in realizing this vision, making the Golden Triangle a key focal point for industrial advancement in the region.

Saudi: VA Tech Wabag lands $272mln Yanbu desalination plant contract
Saudi: VA Tech Wabag lands $272mln Yanbu desalination plant contract

Zawya

time30-07-2025

  • Zawya

Saudi: VA Tech Wabag lands $272mln Yanbu desalination plant contract

VA Tech Wabag (Wabag), a leading pure-play water technology Indian multinational group, has announced that it has been awarded a contract worth SAR1.02 billion ($272 million) by the Saudi Water Authority (SWA) for the development of a sea water reverse osmosis (SWRO) desalination plant in Yanbu, Saudi Arabia. The scope of work includes design, engineering, supply as well as construction, and commissioning of the mega desalination plant, to be developed on a greenfield site located along the west coast of the kingdom. Once completed, the mega project will boast a 300 million litres per day (MLD) capacity. On the contract win, Rohan Mittal, the Head of Strategy and Business Growth for GCC at Wabag, said: "We are immensely proud to have emerged successful in this prestigious project not just once, but twice." "This repeat success underscores the strength of our technical competence, competitiveness and our deep-rooted capabilities in executing large and complex desalination projects. This prestigious project, aligns with and contributes to the ambitious goals of Saudi Vision 2030 and reinforces Wabag's global leadership in the desalination sector," he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (

EazyPay brings Mastercard Receivables Manager to Bahrain
EazyPay brings Mastercard Receivables Manager to Bahrain

Zawya

time30-07-2025

  • Zawya

EazyPay brings Mastercard Receivables Manager to Bahrain

Eazy Financial Services (EazyPay) has announced that it has entered into a deal with Mastercard for the launch of Mastercard Receivables Manager in Bahrain in bid to elevate the customer experience. With this, EazyPay has become the first acquirer in the market to adopt the innovative solution that enhances virtual card payment processing for businesses. Mastercard Receivables Manager enables EazyPay to support merchants in automating their business-to-business (B2B) virtual card receivables. By eliminating manual processes, the solution helps improve efficiency, working capital and cash flow, said the statement. With minimal integration and no need for application programming interface (API) implementation, the customisable platform streamlines the capture of virtual card payments, processes them straight through, and delivers remittance data directly to merchants' accounting systems, it stated. Virtual card payments are playing a key role in this growth, with B2B virtual card spend forecasted to exceed $14 trillion by 2029. This surge reflects a growing demand among businesses for digital solutions that enhance payment processing efficiency, automate receivables, and strengthen cash flow management. On the key partnership, Founder, Managing Director and CEO Nayef Tawfeeq Al Alawi, said: "EazyPay supports businesses with digital payment solutions designed to simplify operations and elevate the customer experience. As virtual cards gain traction for supplier payments, Mastercard Receivables Manager empowers us to strengthen the B2B payments ecosystem across key industries and large market segments." "At Mastercard, we are committed to delivering value-added services that help acquirers and their merchants operate more efficiently. Receivables Manager addresses a critical challenge for suppliers managing high volumes of virtual card payments by automating processing, reducing time and boosting efficiency," he stated. Saud Swar, the country manager, Saudi Arabia, Bahrain, Jordan and other Levant, Mastercard, expressed delight at collaboration with EazyPay to bring this transformative solution to Bahrain's dynamic business landscape. The total value of B2B transactions worldwide is expected to more than double over the next seven years, reaching over $213 trillion by 2032, he added. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store