|16 January, 2020

Egypt’s SWF, Hassan Allam ink MoU for investments in utilities

TSFE and HAH will collaborate with local and international co-investors to identify and invest in major sustainable investment opportunities

Image used for illustrative purpose. Cropped Image Of Insurance Agent Discussing With Client At Desk.

Image used for illustrative purpose. Cropped Image Of Insurance Agent Discussing With Client At Desk.

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Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE) and Hassan Allam Holding (HAH) have signed a memorandum of understanding (MoU) to jointly invest, directly or indirectly, in projects in the fields of power, water, renewable energy, and infrastructure in Egypt.

Under the agreement, the TSFE and HAH will collaborate with local and international co-investors to identify and invest in major sustainable investment opportunities in greenfield or existing infrastructure, water desalination and water treatment, and renewable energy projects, according to a statement released on Wednesday.

“This strategic collaboration is one of our early steps to cement our role in creating and nurturing public-private partnerships through government-owned assets and the privately-managed Sovereign Fund of Egypt,”TSFE’s CEO Ayman Soliman commented.

The cooperation between the TSFE and HAH is based on the belief in the private sector’s commitment to unlocking investable assets with high potential.

“With the renowned international co-investors, and leading technical experts we plan to bring into the equation, we are confident that not only will we lay the groundwork for more fruitful public-private partnerships, but that we will herald in both local and foreign investments,”HAH’s CEO Amr Allam said.

Source: Mubasher

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