The Clap Saudi sovereign Fund (PIF) is eyeing possible stakes in Al Wataniya Petroleum, & three Siemens-built power plants.
The deets The two deals would come as part of the PIF’s $10 billion investments in Egypt.
The PIF intends to tap greenfield & brownfield projects in healthcare, agriculture, education & financial service.
Claps Class Greenfield Projects are untapped new projects. Brownfield Projects are existing & operating projects.
In related news
Recent reports suggested that Emirati fund ADQ Holding could also inject some investments into Egypt by acquiring stakes in both listed & unlisted companies.
Why this matters
A ministerial committee will meet this week to discuss the state companies that will go public this year. The focus will be on listing 4 to 5 companies this year in areas of financial services and energy.