Egyptian-Kuwaiti venture powers up new investments

Egyptian-Kuwaiti venture powers up new investments

Investment company Egypt-Kuwait Holding is exploring new investments in Egypt as it seeks to capitalise into the emerging opportunities. The company has finalised investment of $120 million in a new medium-density fibreboard (MDF) manufacturing facility and plans to expand into the power sector. “Our investments in Egypt are ongoing, and we are exploring more opportunities […]Investment company Egypt-Kuwait Holding is exploring new investments in Egypt as it seeks to capitalise into the emerging opportunities.

The company has finalised investment of $120 million in a new medium-density fibreboard (MDF) manufacturing facility and plans to expand into the power sector.

“Our investments in Egypt are ongoing, and we are exploring more opportunities through visiting several ministries and presenting our proposals,” Daily News Egypt reported, citing chairman Loay Jassim Al-Kharafi during a meeting with Prime Minister Mostafa Madbouly.

No other details of the MDF factory were given.

The company, which is listed on the Egyptian and Kuwaiti stock exchanges, intends to participate in government initial public offering (IPO) programmes and implement electricity distribution stations under the build-operate-transfer system.

Egyptian assistant prime minister Osama El Gohary said last June that the country intends to divest its stakes in 250 companies under its privatisation programme.

Al-Kharafi said they have already