Egypt to Receive $5 Billion Investment from Gulf State

Oman’s news website Atheer reported that the Omani Investment Authority plans to invest $5 billion in Egypt over the next three years.

The website, citing unnamed sources, reports that the Oman Investment Authority is currently exploring possible investment opportunities in Egypt, especially wind energy projects, after entering into a partnership with Saudi-based ACWA Power to cooperate on wind farms proposed by the Egyptian government. invest $1 billion this year in wind energy projects.

The Zafaran Wind Farm and Jabal Al Zeit Power Plant are among the opportunities being explored by the Oman Investment Authority in collaboration with Saudi ACWA Power, the sources added.

The sources said, according to Oman’s website, work is currently underway to formulate a partnership contract between the Oman Investment Authority and the Egyptian Sovereign Fund to explore investment opportunities in areas of interest to the agency, namely the sectors: logistics, services. , mining, industrial projects, technology, infrastructure, food and care, health.

Source: Omani media.

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