Egypt Signed Contracts to Sell State Assets Stakes worth $1.9 Billion
Egypt sold minority shares in 7 state-run companies at a value of $1.9 billion to local, Arab and foreign investors, while the government intends to sell the Gabal al-Zayt station for more than $300 million, and Wataneya company, in addition to offering 21 desalination plants with a total capacity of 3.3 million cubic meters per day, with investments exceeding $3 billion in the first phase, which ends in 2025.
This came in a press conference held by the Prime Minister, Mostafa Madbouly, at the government headquarters in the New Administrative Capital, with the participation of ministers from the economic group, during which he reviewed the plan to implement the government's offering program, and increase the participation of the private sector in the Egyptian economy.
The Egyptian Prime Minister Mostafa Madbouly said that Egypt aims to offer 32 companies within the government offering program.