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Thursday, 05 August 2021

Egypt, Norwegian company mull cooperation in desalination, renewable energy

Both sides tackled during a meeting today the development projects in Egypt, including the $1 billion Bahr al-Baqar wastewater treatment plant

MENA , Saturday 17 Jul 2021
Egypt, Norway
Minister of International Cooperation Rania Al-Mashat (R) during a meeting with Executive Vice President of Project Development and Project Finance of Norwegian Scatec Solar Terje Pilskog on Saturday, July 17, 2021 (Photo of the Egyptian international cooperation ministry)
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Minister of International Cooperation Rania Al-Mashat met Saturday with Executive Vice President of Project Development and Project Finance of Norwegian Scatec Solar Terje Pilskog.

The meeting tackled the ongoing development projects in Egypt, including the $1 billion Bahr al-Baqar wastewater treatment plant.

Al-Mashat reviewed the state's efforts to expand water desalination projects and implement many projects through international partnerships, in addition to new and renewable energy projects, and the Egyptian state's endeavor to localize the industry and modern technologies in these two fields.

She also briefed the Norwegian guest on the successful issuing of the first green bond for the private sector in Egypt, through a partnership between the International Finance Corporation and the Commercial International Bank, noting that the success strengthens Egypt's leadership in the field of green finance and enhances environmental and social standards in the implemented investment projects.

The Ministry of International Cooperation aims to make 2021 the year of enhancing private sector participation, coinciding with the state’s launch of the second wave of structural reforms, the minister said.

In turn, Pilskog affirmed his company's aspiration to enhance cooperation with Egypt in the fields of water desalination and renewable energy, in light of the state's direction to implement ambitious strategies in these areas.
 

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