Egypt's newly appointed Prime Minister Mostafa Madbouly (Photo: Al-Ahram)
Egypt's Prime Minister Mostafa Madbouly said his country welcomes any offers by international companies for investment in the operation and management of electrical energy stations.
The premier's remarks were made during his meeting with Sameh Shenouda, Chief Executive Officer at Zarou Limited Company, an affiliate of US's Blackstone Group, in the presence of Minister of Electricity Mohamed Shaker to explore the company's offers to invest in the electricity projects as well possibility of investment in the seawater desalination and sewage water treatment projects.
During the meeting, Madbouly asserted that the government welcomes all offers for investment in the various fields, especially the electricity sector. He announced his full support for the company's plans for investment in Egypt.
Zarou’s focus is primarily on thermal and renewable power investments and also includes oil & gas midstream and water assets.” Through Zarou, Blackstone will invest “hundreds of mns of USD” in Egypt, Jordan, and Morocco, among other countries in the region.
Egypt aims to boost its use of renewable energy to 22 percent by 2020 as part of efforts to achieve sustainable development.