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Egypt In-Focus— Saudi Egyptian Investment Co. aims to attract $10bn; Nile River cleanup campaign

CAIRO: Egypt’s pre-qualification requests to develop 57 schools under the second phase of the public-private partnership project have received interest from 23 companies. 

The pre-qualification process is expected to get over by the end of August, MEED reported, citing the director of the PPP Central Unit at Egypt’s Finance Ministry Atter Ezzat Hannoura.

 The PPP unit is responsible for procurement of non-energy-related projects in Egypt that involve private sector participation and investment, it added.

Saudi Egyptian Investment Co. aims to attract $10bn in investments 

The Sovereign Fund of Egypt has partnered with Saudi Arabia’s Public Investment Fund to launch a new company — the Saudi Egyptian Investment Co. — which is set to attract investments worth $10 billion, the Egyptian Cabinet said.

The deal will help Egyptian and Saudi private companies diversify their markets, and benefit from one another, reported Egyptian Streets.

 The fund will target several sectors such as financial services, agriculture, health, manufacturing, and pharmaceuticals, it added.

This comes after Crown Prince Mohammed bin Salman announced the importance of investments in Egypt for the completion of the NEOM City Project.

Nile River cleanup campaign

Egypt’s Ministry of Irrigation and Water Resources has planned a major clean-up campaign along the Nile River on Sept. 17, in accordance with the World Cleanliness Day.

The purpose is to wash away all the pollution and waste that inevitably ends up in the world’s longest Nile, Egypt Today reported.

The ministry is looking forward to the event, which will extend from Cairo all the way to the city of Aswan, it added.

“This major campaign to clean the Nile River will be recorded in the “Guinness Book of Records” as the longest campaign ever in the world,” stated Mohamed Abdel-Atti, minister of water resources and irrigation.