$300 million .. The Jabal Al-Zeit wind station will be installed next October
The government exits from Ezz El Dekheila for 241 million dollars
Shrouq
Dr. Hala Al-Saeed, Minister of Planning and Economic Development, said that the Sovereign Fund offered the Jabal Al-Zeit station competitively to a number of investors, and a group of non-binding offers were received.
Al-Saeed added that the offers were studied, and an investor was contacted last June to acquire the station at a value of more than $300 million.
She indicated that a period of 60 days is given to the investor to complete the examination of ignorance, explaining that the award will take place next October.
It revealed that one of the holding companies for government hotels was put forward competitively, through which the state aimed to increase the capital for a minority stake in these hotels.
She explained that after receiving the offers, the award took place in the form of a capital increase of 37% to Ikon, a subsidiary of Talaat Moustafa Group, for $700 million.
The Minister of Planning confirmed that the aim of the government offering program is to increase the participation of the private sector.
on the other hand, Dr. Hala Al-Saeed, Minister of Planning and Economic Development, said that the state has taken serious steps in terms of exiting some government assets within the framework of the state's strategy to maximize private sector participation and create new hard currency resources.
Ezz El Dekheila Company
In the same context, it referred to the government's exit from Ezz El Dekheila Company by 31%, compared to $241 million.
Hala Al-Saeed indicated that the state is preparing new proposals for the coming period, after the state succeeded in offering a large number of companies that had been announced and the state exited from them at a value of $1.9 billion.
Sovereign Fund of Egypt
She mentioned that the Sovereign Fund of Egypt is the investment arm of the Egyptian state to attract more investments from the local and foreign private sector, in addition to maximizing the volume of return from the state’s assets, stressing that the goal of the fund is to preserve the country’s wealth for future generations because it is owned by the Egyptian people.
Dr. Mostafa Madbouly, Prime Minister, said that the state is developing new resources for foreign exchange by contracting with the private sector, explaining that exits have been made from entities with a total value of $1.9 billion.
He indicated that it was decided that the state would receive 1.650 billion dollars out of a total of 1.9 billion dollars, adding that the government obtained the rest in Egyptian pounds after already exiting from institutions, including Telecom Egypt.
