Home Page Pioneers Holding Website Site Map
Release from Egyptian for Tourism Resorts (EGTS.CA) Regarding the Decisions of the AGM       Release from Rowad Tourism (Al Rowad) (ROTO.CA) Regarding The EGM       Release from Rowad Tourism (Al Rowad) (ROTO.CA) Regarding The EGM       Foreign investment in Egypt treasuries hit $22B end-Dec.       254M shares covered in sub., remaining shares will be reoffered, Beltone says       Egypts Talaat Moustafa to issue its first sukuk in April       Egyptian property developer IWAN eyes higher investments this year       EGX sets price limits of Foodicos right for Tuesday       Sharkia National Food (SNFC.CA) - Board Of Directors Decision       International company For Medical Industries -ICMI (ICMI.CA) - Release Concerning a Clients Shares (NILEX)       Release from Egypt for Poultry (EPCO.CA) Concerning any Material Events       Release from Pharaoh tech for control and communication systems (PTCC.CA) Regarding the Financial Statements (NILEX)       Arab Moltaka Investments Co (AMIA.CA) - Board Of Directors Decisions       Release From Beltone Financial Holding (BTFH.CA.) Concerning the Subscription Coverage Ratio       Egyptian Iron & Steel (IRON.CA) - Decisions of the Board of Directors meeting       UK announces 24M to support Egypt development sectors       Egypt may list its first green bonds in LSE this year       Global stocks stay near record highs; focus turns to central banks, earnings       Egypt signs 9 agreements for oil, gas exploration worth $452M       British Investment Fund to invest $700M in Egypt      
ACGC.CA  5.67    1.07%      AFDI.CA  12.02    1.52%      APSW.CA  2.71    1.88%      COMI.CA  73.35    0.87%      EFIC.CA  16.93    1.93%      EGTS.CA  1.55    2.65%      EHDR.CA  5.13    2.40%      EKHO.CA  0.80    -1.23%      ELEC.CA  0.89    3.49%      ELKA.CA  14.98    0.00%      EMOB.CA  128.73    1.83%      EPCO.CA  2.30    0.00%      ESRS.CA  19.59    0.98%      ETEL.CA  13.49    -0.37%      HRHO.CA  23.27    0.00%      IFAP.CA  2.38    2.15%      KABO.CA  1.49    0.68%      MNHD.CA  10.29    1.78%      MOIL.CA  0.28    3.70%      NCGC.CA  6.55    0.00%      OCDI.CA  19.54    0.41%      OCIC.CA  217.47    0.00%      ORTE.CA  4.42    1.38%      PHDC.CA  4.06    1.50%      PIOH.CA  8.47    0.59%      SPIN.CA  2.05    1.49%      SVCE.CA  5.49    2.23%      SWDY.CA  136.72    0.80%      TMGH.CA  10.22    1.89%      UEGC.CA  0.77    1.32%      
First Name
Last Name
E-Mail
E-Mail
HSBC, Citibank compete to assess Siemens power plants

Cairo: High-level government sources told Daily News Egypt that Egypts sovereign wealth fund is choosing between HSBC and Citibank to evaluate Siemenss power stations in Beni Suef, Burullus and the New Administrative Capital (NAC). The consultant who will undertake the evaluation will be announced within a few days.
The sources added that the financial adviser to be selected will undertake the review of documents and contracts and assess the cost of the stations in preparation for their presentation to foreign companies for investment and the purchase of their shares.
Egypts SWF plans to obtain a 30% stake in power plants implemented by the German company Siemens, and six international investors have expressed interest in managing and operating the three power stations, along with the direct investment fund Actis that made a letter of intent to acquire one of the stations.
HSBC bank is one of the banks that financed three electricity production plants in Beni Suef, Burullus, and the NAC, with a total capacity of 14.4 GW along with the German Development Bank and Deutsche Bank, where they contributed to the financing of stations worth 4.1bn, equivalent to 85% of the total value of the contracts amounting to 6bn.
The Egyptian Electricity Holding Company had agreed on a back-up loan from the Ministry of Finance equivalent to 900m which constituted the remaining 15% of the total financing and represented the advance payment for the Burullus, Beni Suef and New Capital projects.
The sources added that the three stations, with a total capacity of 14,400 MW save $1.2bn in fuel annually, and their efficiency rates exceed 60%.
Ayman Soliman, Egypts SWF CEO, said in previous press statements that there is great interest on the part of investors in the power stations that were built by Germanys Siemens.
He explained that some of the assets will be owned and some of them will be managed only according to the type of assets and the laws governing them and the appetite of investors, pointing out that the fund is in talks with three Arab sovereign funds, and before the end of the year it will sign agreements with two of them, depending on the pace of the existing discussions

Time Added: 2019-12-08 10:06:37
Source: arabfinance
  print
Send to a friend
Your Name
Your E-mail
Your Friend Name
Your Friend E-mail
Your Message
 
Share on Facebook

Related News
Release from Egyptian for Tourism Resorts (EGTS.CA) Regarding the Decisions of the AGM
Release from Rowad Tourism (Al Rowad) (ROTO.CA) Regarding The EGM
Release from Rowad Tourism (Al Rowad) (ROTO.CA) Regarding The EGM
Foreign investment in Egypt treasuries hit $22B end-Dec.
254M shares covered in sub., remaining shares will be reoffered, Beltone says
Egypts Talaat Moustafa to issue its first sukuk in April
Egyptian property developer IWAN eyes higher investments this year
EGX sets price limits of Foodicos right for Tuesday
Sharkia National Food (SNFC.CA) - Board Of Directors Decision
International company For Medical Industries -ICMI (ICMI.CA) - Release Concerning a Clients Shares (NILEX)