Egypt Infrastructure Report Q2 2009

Publication Date	April 2009
Publisher	Business Monitor
Product Type	Report
Pages	89
ISBN Number	not applicable
Product Code	BMI03705

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Summary

The Egyptian government has recently announced that it is going to double its planned EGP15bn (US$2.65bn) stimulus package, which should lend support to infrastructure. It is hoped that by boosting the construction industry, will in turn provide jobs and increase consumer spending. However, BMI notes the time lag between the allocation of money to an infrastructure project and the commencement of work on said project, often due to the number of surveys and studies needed. We predict that after expanding by 4% in 2009 in real terms the construction sector growth will rise to above 5% by 2010. By 2013, the sector should be back on track with growth forecast to be pushing 10%.

In January 2009, the World Bank announced that it will lend Egypt US$600mn for the construction of the Ain Sokhna power plant. The World Bank loan will be partly financed by the African Development Bank and the Arab Fund for Economic and Social Development. The loan is to help the Egyptian Electricity Holding Company (EEHC) finance the 1,300MW supercritical steam turbine Ain Sokhna power plant. The plant will consist of two 650MW turbines and will be mostly powered by natural gas.

The plant will be managed by the East Delta Production Company, a subsidiary of EEHC and is expected to be completed in 2013.

There has been a clear strategy of constructing power plants in Egypt recently, and the World Bank notes that 1,300MW of new capacity is being installed per year. In March 2009, as reported by Reuters, Egyptian construction firm Orascom received a contract to construct a US$258mn 1,300MW thermalfired power plant in Alexandria. The client for the project is the state-run West Delta Electricity Production Company, which is currently constructing a number of power plants in Egypt and Algeria.

The projects will have a combined generating capacity of 4,150 MW.

According to Reuters, Egypt's economy registered growth of 4.1% y-o-y in the second quarter of its fiscal year (October-December 2008) compared with 7.7% y-o-y for the same period in 2007-2008. The growth was less than market forecasts and was due to low revenues from the manufacturing sector and from the Suez Canal. BMI has slashed our 2009 and 2010 growth forecasts in the light of the ongoing global economic slowdown, as well as a deteriorating security situation in the Gulf of Aden, which is threatening Suez Canal traffic. Going forward, GDP will slow to a full-year rate of 3.7%, and then fall further to 3.0% in 2010.

Content

Executive Summary
Market Overview
Global
Weeding Out Possible White Elephants
Mega-Urban Regions: Opportunities And Challenges For Infrastructure
Mega-Urban Regions: Investment Opportunities And Risks
SWOT Analysis
Egypt Infrastructure Industry SWOT
Egypt Political SWOT
Egypt Economic SWOT
Egypt Business Environment SWOT
Major Infrastructure Developments And Key Projects
New And Ongoing Projects
Airports
Rail Networks
Rail
Road Networks
Energy And Utilities Infrastructure Overview
New And Ongoing Projects
Power Plants And Transmission Grids
Oil and Gas Pipelines
Water
Construction Overview
New And Ongoing Projects
Residential Construction
Industrial Construction
Tourism
Major Projects
Industry Forecast Scenario
Business Environment
Middle East Infrastructure Business Environment Ratings
Business Environment Ratings
Limits Of Potential Returns
Risk To Realisation Of Potential Returns
Project Finance Ratings: Outlook For Middle East
Foreign Direct Investment
Labour Force
Legal Framework
Tax Regime
Macroeconomic Outlook
Political Outlook Domestic Politics
Company Monitor
Arab Contractors
Orascom Construction Industries
Country Snapshot: Egypt Demographic Data
Section 1: Population
Section 2: Education And Healthcare
Section 3: Labour Market And Spending Power
BMI Forecast Modelling
How We Generate Our Industry Forecasts
Construction Industry
Sources
Business Environment Ratings
Ratings Overview
Project Finance Ratings Methodology
Construction Risks
Operating Risks - Commercial Construction
Operating Risks - Energy and Utilities
Operating Risks -Transport
List of Tables
- Table: The World's 30 Largest Urban Agglomerations
- Table: The World's Richest Cities In 2020 By Gdp
- Table: The World's Fastest Growing Urban Areas
- Table: Egypt - Major Infrastructure Projects - Transport
- Table: Egypt - Major Infrastructure Projects - Utilities
- Table: Egypt - Major Infrastructure Projects - Construction
- Table: Egypt--Economic And Construction Data
- Table: Middle East Infrastructure Business Environment Ratings
- Table: Design and Construction Rating
- Table: Commissioning and Operating Rating
- Table: Overall Project Finance Rating
- Table: Egypt - Economic Activity
- Table: Egypt - Key Players
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2010
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Wages, 2000-2012
- Table: Infrastructure Business Environment Indicators

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Product features / use

Level	General Industry Strategies
Data	Detailed Market Forecasts
Profiles	Profiles of Key Companies
Features	Contains SWOT Analysis
Extra Info	Consumer Trends Highlighted