Egypt aims to offer power plants with Siemens in bag

An Egyptian government statement said on Wednesday that Egypt aims to put in exchange the power stations established with Siemens.

The statement quotes the executive director of the Egyptian Sovereign Fund, Ayman Soliman, according to whom the offer aims to “Maximize the return on state assetsThis is in addition to the refinancing of state investments to lighten the burden on the public budget.

The statement came after a meeting held by Prime Minister Mostafa Madbouly, to follow up on the position of some companies on the Egyptian stock exchange and to take stock of the developments of some projects of the Egyptian sovereign investment fund.

Soliman reviewed the Fund’s plan to support the transition to green energy and maximize its use, noting that it aims to support the transition to using renewable energy, exporting energy, increasing Egyptian exports of various products and the creation of new job opportunities.

He added that support for green transformation includes a plan to start water desalination plants, use green hydrogen in fertilizer production, and set up a renewable energy fund. in collaboration with financial institutions.

In a related context, Suleiman looked at companies listed in the government’s bidding program and the views of investment banks in about the companies listed in the bidding program.

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