Egypt to offer 5 coastal areas to investors: Madbouly

The turquoise waters around Dahab in the Red sea at sunrise, South Sinai Governorate, Egypt. Getty Images
Getty Images

This move aims at luring further investments in deals similar to ADQ’s $35 billion Ras El-Hekma agreement, Madbouly added

Staff Writer, Arab Finance

September 19, 2024

PHOTO
The turquoise waters around Dahab in the Red sea at sunrise, South Sinai Governorate, Egypt. Getty Images

Egypt is set to offer four to five coastal areas along the Red Sea, including Ras Benas, to investors, Prime Minister Mostafa Madbouly said in a press conference.

This move aims at luring further investments in deals similar to ADQ’s $35 billion Ras El-Hekma agreement, Madbouly added.

Moreover, Madbouly revealed that there will be no more power outages under the electricity load reduction plan, adding that a sum of $2.5 billion were spent to secure energy supplies.

He added that Egypt’s natural gas production from Zohr field will be back to normal levels before June 2025.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO