Qalaa Holdings to offer TAQA Arabia on EGX in 2023

Qalaa Holdings to offer TAQA Arabia on EGX in 2023

Sharm El-Sheikh – Hisham Al-Khazindar — Co-Founder and Managing Director of Qalaa Financial Investments — revealed a plan to offer the stocks of TAQA Arabia in 2023 on the EGX.

He added that the offering depends on the improvement of financial market conditions.

In a statement on the side-lines of the recently concluded UN Conference of Parties on Climate Change (COP27) that was held in Sharm El-Sheikh, Al-Khazindar said that green hydrogen is at the top of the projects that the group is currently considering through TAQA Arabia, which is planned to be one of the largest active players in the field in Egypt.

He explained that green hydrogen projects are divided into two main parts — renewable energy and the green ammonia industry, explaining that the ammonia sector has institutional experience.

Furthermore, he said that the group aims to invest about EGP 15bn over a period of up to three years.

Al-Khazindar also stressed that the group is expanding its investments in most of its subsidiaries and multiplying them during the coming period, whether in terms of investments or production volume. This includes the Egyptian Refining Company, Ascom For Carbonate and Chemicals Manufacturing, the Egyptian Company for Printing and Packaging, and TAQA Arabia.

He believes