I don't see CEE being strangled. The current agreement is fantastic for the Egyptian governtment compared to others around the world. Further strangulation will only deter more investment which is not the goal. I agree that the state run enterprise will probably be a huge failure. It may even be a sop to the leftists to show that there is some "social justice" going on. At any rate, it will take many years before any revenue flows from any of its projects.

The way I read it is that the company has agreed to limit its activities to the original 3 sqkm pending the outcome of the court case. That way gold exports can continue unimpeded as that area is not in dispute. The $25m clawback is half of the fuel subsidy going until March of this year. Although this is a climbdown for the company, it is a small one and will probably be recouped from future revenue in some way. Either way is small beer in the grander scheme.