Egypt intends to raise $5 billion from the offering program until next June

Egypt intends to lift $5 billion from the providing program till subsequent June

World By Aug 28, 2023 No Comments

The Egyptian authorities revealed the most recent developments within the authorities providing file, in keeping with the “State Possession Coverage” doc, which was up to date for the month of August, as Egypt plans to supply shares in 5 firms along with water desalination crops till the tip of the primary half of subsequent 12 months.

The federal government raised the variety of firms inside the providing program to 35 firms, as “Jap Tobacco”, “Egyptian Telecom” and “Ezz El Dekheila Metal” had been included in this system, which included 32 firms.

The doc, which was reviewed by Al Arabiya.web, said that this system goals to gather $5 billion throughout this stage, the majority of which is as a result of providing of 70% of the Siemens energy station in Beni Suef, which is predicted to be carried out in June subsequent 12 months, after acquiring The collectors agreed to restructure and switch the $735 million debt on the station from the Egyptian Electrical energy Holding Firm to the brand new firm designated for this function. The federal government didn’t rule out providing a share of the corporate on the Egyptian Inventory Alternate.

wind stations

As well as, the federal government plans to supply the “Jabal al-Zeit plant” to generate electrical energy from wind vitality as a aggressive supply to various traders, with a complete worth of $300 million, as a part of the exit plan from 3 firms by which the state contributes earlier than the tip of 2023. Along with providing a “nationwide” firm for petroleum merchandise. subsequent October or November.

The doc said that with regard to the wind energy plant in Zaafarana, which is without doubt one of the oldest wind stations in Egypt, it was divided into two elements in keeping with the 8 phases of its institution, the place it was agreed to assign the primary 4 phases, which have expired, to Maersk. immediately, whereas the monetary compensation might be decided later. The opposite half might be awarded to the investor who submitted the very best bid, supplied that the generated vitality is used to provide inexperienced hydrogen initiatives. The providing is predicted to be awarded in December 2023.

web and patriotism

The doc indicated that non-binding presents had been acquired from 8 traders to purchase Wataniya – the corporate was restructured and 174 distribution stations had been transferred to the brand new entity out of a complete of greater than 300 stations – and it’s scheduled to obtain binding presents from 4 traders who had been allowed to conduct the due diligence examination. The transaction worth might be paid in {dollars}.

With regard to Safi, a staff of consultants restructured the corporate and created a brand new entity that owns factories along with 75 distribution retailers. Whereas 2 traders are learning the small print of the deal out of a complete of 30 traders who’ve expressed curiosity within the firm.

desalination crops

The doc additionally indicated the launch of 21 desalination crops in coastal areas with a complete manufacturing capability of three.3 million cubic meters / day within the first part between 2020 and 2050, with a manufacturing capability of 8.8 million cubic meters / day.

The doc expects that the quantity of investments within the venture between 2024 and 2026 will attain greater than 3.3 billion {dollars}, which might be pumped by the personal sector, thus elevating it from the state funds. Greater than 90 traders utilized for the pre-qualification stage, and 17 alliances had been certified.

It’s scheduled to supply 4 stations out of 21 stations inside the first part, as the federal government selected the European Financial institution for Reconstruction and the Worldwide Finance Company as monetary advisors, and it’s anticipated to be awarded through the first half of 2024.

Theses programme

Theses programme

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