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 […]
Castrol, TAQA to establish Egypt JV for manufacture, distribution of engine oil
BP announced on Thursday that subsidiary Castrol will establish a joint venture with Qalaa Holdings’ TAQA Arabia to manufacture and distribute a range of engine oils in Egypt. The new company, Castrol Egypt Oil, will be the sole authorized distributor of Castrol products in the country and will target both the commercial vehicle and passenger car […]
Qalaa’s revenues up 22% y-o-y on back of strong growth from TAQA Arabia
Qalaa Holdings, a leader in energy and infrastructure, released today its consolidated financial results for the year ending 31 December 2017, reporting revenues of EGP 9,282.3 million, up 22% y-o-y on the back of strong growth from its energy subsidiaries, TAQA Arabia and Tawazon, as well as ASCOM, its operational platform in the mining sector. […]
Qalaa Holdings eyes increasing stake in Egyptian Refining Company
Qalaa eying additional stake in Egyptian Refining Company: Qalaa Holdings announced yesterday that it is looking to increase its ownership of its greenfield Egyptian Refining Company (ERC) by acquiring or subscribing to additional shares in its subsidiary Orient Investment Properties, Qalaa said in a regulatory filing. ERC recently completed a project finance restructuring that saw […]
Qalaa's Chairman: Egypt is ready to be regional energy hub
With gas production in full swing across a number of sites in Egypt, the country is ready to become a key exporter of energy in the region and beyond, the chairman and founder of investment firm Qalaa Holdings told CNBC. “In the oil and gas sectors Egypt remains a very important player,” Ahmed Heikal, told […]
Qalaa Holdings' ERC expects to recover cost of delayed launch in six years
Qalaa Holdings’ Egyptian Refining Company (ERC) expects to recover the cost of its delayed launch in six-years’ time, Managing Director Mohamed Saad told the press yesterday, Reuters reports. The company is on track to begin trial operations at the Mostorod facility in 3Q2018 and launch operations by the end of 2018 or early next year, […]
