Egypt to sell shares in power plants

The Egyptian government plans to sell shares in power plants it built in partnership with Germany’s Siemens, Zawya reports citing a statement by the state.
Ayman Soliman, head of Egypt’s sovereign fund said according the statement the proposed offer on the Egyptian stock market is aimed at “maximizing the return on state-owned assets and refinancing state investments to ease the burden on the public budget.”
Hesham Tawfiq, the Arab republic’s minister for the public business sector reportedly told Reuters that an offering of stakes in four state-owned companies will be completed during the first half of 2022.
Siemens built three 4.8 Gigawatt power plants in Egypt, beginning in 2015, at a total cost of $7 billion.

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