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Member Info for Siko

Member Since: Sun, 11th Dec 2011

Number of Share Chat Posts (all time): 1,161
Number of Share Chat Posts (last 30 days): 12

Last Posted: Mon 00:02

Post Distribution over the last 30 days

Mon 00:02

Tanta Flax company cc is now a reality check for the Egyptian government..

In 2005 the government sold the company for 83 millions LE to a Saudi investor.

Alfakharan appealed against the contract in 2011 and the administrative court ruled invalidating the contract.

In 2013 the SAC confirmed invalidating the contract.

The government tried to ignore enforcing the ruling.

Alfakharany filed a case to enforce the ruling and yesterday the court ruled accepting his case and confirming the previous rulings and refused any government appeals.

The Saudi investor is asking for 1 billion LE compensation, otherwise he is threatening to go to international court.

The ECESR - in the first link- is highlighting the case as a huge win.

18 Jun '15

All went OK.. Baby Lillia arrived.. 7lb 15oz.. I found out that this was the first question all women asked (What was her weight?).. while men never asked that question!! .. Both mum and baby doing very well.. Thanks everyone for the well wishes..

It looks like you kept yourselves busy and I have a few posts to read!!
16 Jun '15

Case adjourned 27th Oct. I don't know anymore details yet.

Mrs. Siko would kill me if she knew what I was doing now. Still waiting for the baby, not long to go.
15 Jun '15

Jimbo_Jet, no time set for the cc tomorrow. The SAC considers a few cases on the day and all depends on where the case is on the list.


The council of ministers is meeting tomorrow to approve the Executive Regulations of the IL.


I came across this report from 3rd June and thought to post it as I have not seen it before:

Mr El-Raghy: We aim to repeat the experience of Alsukary in a new concession area, but according to the previous contract system, and not through the process of bidding posed by EMRA. The company has offered in the feasibility study submitted to the government at the beginning of Alsukary project a plan to work in several gold mines, and Centamin carried out studies before choosing Alsukary area to start with. Centamin has the financial capability to implement a new project in Egypt for the research and exploration of gold, and maximize the return to the state.

Centamin is ready to increase its investments in Egypt because it is an important part of the undiscovered mining areas, and there are many of the world's known mining areas and is waiting for development, and Alsukary is one of 120 historically gold mines in Egypt, and we wish to invest in the start of the mining industry in Egypt.
11 Jun '15

The Executive Regulations of the new IL were published today in the newspapers. According to the media, these regulations have been approved by the State Council, but still to be approved by the Council of Ministers.

If this is the final version, then I will be very disappointed as it does not contain anything about law 32, court cases or anything similar. I don't know if they are waiting for the SCC decision on law 32 or what..

As for the cc on the 16th June, the hospital booked my wife for a caesarean section on the 16th June as we are having baby number 3, so I may not be able to update you - on both the cc and the baby "girl" - straight away, but I will do as soon as I can :)

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