EGX 30 rises 1% as Orascom, Elsewedy and EFG Hermes drive flow
The EGX 30 closed up 0.9972% at 49,078.6 on April 9, with corporate headlines centered on infrastructure, energy and financial services. Orascom Construction highlighted a $9 billion consolidated backlog for 2025, according to ZAWYA, after signing a PPA for a 900 MW wind farm at Ras Shokeir with Engie and Toyota Tsusho, EnterpriseAM Egypt and MarketScreener reported. Elsewedy Electric also held talks with the Electricity Ministry on broader grid and distribution projects, according to ZAWYA, after advancing enterprise-scale Agentic AI adoption with IBM, Intelligent CIO reported. EFG Hermes advised on Trolley's $195 million private placement and completed its IPO and listing on Boursa Kuwait, according to ZAWYA and TradingView, while Abu Qir Fertilizers approved a $5.6 million coated urea project with 400 tons per day of capacity, ZAWYA said. Telecom Egypt denied any move to turn a data center complex into a cash-generating asset, according to Data Center Dynamics, while April 9 filings were led by AGMs, rights and governance disclosures, including a rights issue at South Valley Cement.
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