Egypt to privatize four state-owned companies

Egypt is ramping up its privatization program by listing four major state-owned companies for sale. The Egyptian cabinet announced the move on Sunday as part of the country's ongoing economic reforms to boost private sector participation.

The new listings span two crucial sectors of Egypt's economy, News.Az reports, citing Reuters:

Petroleum: Three of the companies are from the oil and gas sector. These include Engineering for Petroleum and Chemical Industries (ENPPI), Egyptian Linear Alkyl Benzene Company (ELAB), and Petroleum Marine Services.

Tourism & Real Estate: The fourth firm added to the block is Maamoura for Reconstruction and Tourism Development.

The decision aligns with Egypt's broader strategy to generate foreign currency, reduce the state's footprint in the economy, and attract fresh private investment into key industrial and tourism assets.