Saudi's ACWA eyes $12bn investment in Egypt power
Up to 10,000MW could be added through renewable and traditional channels to Egypt's national electricity grid, ACWA chairman Mohammed Abunayyan reportedly said
Saudi Arabia's ACWA Power is said to be considering investments worth $10bn to $12bn in Egypt over the next five years, its chairman said.
Mohammad Abunayyan added the company is keen to invest in Egypt's power generation sector through both renewable and traditional facilities.
Up to 10,000MW of energy is expected to be added to Egypt's national electricity grid, Abunayyan added.
According to Egypt daily, Amwal Alghad, these investments are being based on the promising potential of the Arab country's power sector.
Hassan Amin, country manager at ACWA Power, remarked Egypt's power sector could attract up to $30bn investments in the next five years.
These investments, he added, would be backed by legislative reforms and investment incentives provided by Egypt's government.