Saudi ACWA Power invests $1.5 bln in Egypt wind power plant: Egypt cabinet
Saudi ACWA Power has invested $1.5 billion in a wind power plant in Egypt, according to a statement from Egypt’s cabinet.
More renewable energy agreements were signed, as well as deals in involving petroleum products, food and fintech.
For the latest headlines, follow our Google News channel online or via the app.
Other deals involved the development of the multi-purpose terminal at Egypt’s Damietta port, the authority’s statement said, and the establishment of a $150 million “pharmaceutical city” by Egypt’s Pharco Pharmaceuticals in Saudi Arabia, the company’s chairman told Alsharq TV.
In March, Saudi Arabia deposited $5 billion in the Egypt’s central bank and the Egyptian government has said that cooperation with the Saudi sovereign wealth fund will result in $10 billion in investments.
The Saudi-based ITFC has provided Egypt with $3 billion in new financing for commodity imports, its CEO told Reuters last week.
Read more:
Oman oil discoveries to boost production by up to 100,000 barrels: Minister
South Korean companies to build $1 bln green hydrogen plant in UAE
Also Read
-
Oman oil discoveries to boost production by up to 100,000 barrels: Minister
Oman has made new oil discoveries that will raise its production by 50,000 to 100,000 barrels in the coming two to three years, the state news agency ... Gulf -
South Korean companies to build $1 bln green hydrogen plant in UAE
Three South Korean companies have signed an agreement to build a $1 billion green hydrogen and ammonia production plant in the United Arab Emirates, ... Gulf -
China to double wind, solar energy capacity by 2025
China aims to double its wind and solar capacity by 2025, according to a new road map that also allows for more coal-fired power plants to bolster ... World News
