TAQA Arabia to build 180 natgas filling stations with EGP 3.6 bn investment
TAQA Arabia will invest EGP 3.6 bn to build 180 natgas filling stations between now and 2023, Executive Chairman Khaled Abu Bakr told Kelma Akhira’s Lamees El Hadidi last night. Qalaa Holdings’ energy distributor was announced last week as a private sector partner that will help expand the country’s network of natgas stations as more […]
TAQA Arabia’s IPO in the EGX “not in the near future” – sources
Qalaa Holdings’ TAQA Arabia won’t be making its EGX debut in the near future due to the potential for market volatility caused by the pandemic, the local press reported yesterday, quoting sources close to the matter. Qalaa had reportedly planned to list 30-40% of its portfolio company in the first half of 2020. The company […]
President Sisi inaugurates ERC’s new Mostorod Petrochemical Refinery
Egyptian Refinery Company’s Mostorod petrochem refinery is inaugurated: Qalaa Holdings subsidiary Egyptian Refining Company’s (ERC) USD 4.3 bn facility in Mostorod was inaugurated yesterday by President Abdel Fattah El Sisi. As the largest private sector project of its kind in Africa, the refinery will produce each year some 2.3 mn tonnes of diesel fuel and […]
TAQA Arabia to inaugurate new natural gas fueling stations this year
TAQA Arabia is planning to open several natural gas fueling stations before the end of the year at a combined cost of EGP 145 mn, TAQA CEO Pakinam Kafafi said, according to Al Mal. The new stations will bring the total number operated by the Qalaa Holdings subsidiary to 21, and come as part of […]
Qalaa announces operation of Hydrocracker unit at ERC Refinery
Qalaa Holdings announces the successful operation of the Hydrocracker in its flagship project Egyptian Refining Company “ERC”. All the project units are now operating. Qalaa declares all units at ERC are a go: The Egyptian Refining Company (ERC) has successfully begun hydrocracker operations, Qalaa Holdings said in a bourse filing on Thursday. With that, all […]
Qalaa Chairman presents Landmark ERC Case Study at Africa Investment Forum
Qalaa Holdings Chairman Ahmed Heikal Presents Landmark ERC Case Study at Africa Investment Forum in Johannesburg, South Africa. Qalaa Holdings Chairman and Founder Ahmed Heikal showcases US$ 4.3 bn greenfield refinery as a successful example of a private sector-led infrastructure mega-project that will provide a domestic substitute for c. 40% of Egypt’s diesel imports. Ahmed […]
Edison, Qalaa Holdings scrap plan for 150 MW Abu Qir power plant
Edison and Qalaa Holdings have decided to scrap their plan to build a $150 million combined cycle power plant in Abu Qir after determining that the project would not be financially feasible with current power tariffs, an unnamed source from Edison tells Al Masdar. Qalaa and Edison had planned to sell power from the 180 […]
Qalaa looks to increase its stake in Egyptian Refining Company ERC
Qalaa Holdings is in talks to increase its stake in the Egyptian Refining Company (ERC) through a capital increase, Managing Director Hisham El Khazindar said yesterday. The refinery is now 98% complete and is expected to be a major driver of revenue expansion starting next year. El Khazindar told Al Mal that trial operations at […]
TAQA Arabia, Hassan Allam break ground on EGP 1.35 bn Benban solar plant
Qalaa Holdings subsidiary TAQA Arabia and Hassan Allam Holding have begun constructing their EGP 1.35 bn, 50 MW solar power plant in Aswan’s Benban complex, Qalaa said in a statement to the EGX. The project is being finance by five international institutions, including the International Finance Corporation IFC, according to the statement. The power plant […]
Qalaa’s ERC refinery fires up boilers after connecting gas, power
ERC begins running boilers after connecting refinery with power and gas: Qalaa Holdings’ Egyptian Refining Company (ERC) has begun running the USD 4.3 billion Mostorod refinery’s boilers, Qalaa said in a regulatory filing on Wednesday. The trial runs took place as the refinery was hooked up to electricity and gas, the statement added. The move comes […]
