Egypt to Present Projects Worth $2.3 Bln in 2016Source: www.export-egypt.com 11/22/2015, Location: Africa |
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Egypt will present 12 government projects for international bidding as public-private partnership (PPP) ventures worth a total of up to LE18 billion($2.3 billion) in 2016, according to Atter Hannoura who is head of PPP at the finance ministry.
Egypt is largely dependent on private sector investment to drive economic growth following four years of political upheaval. The 12 government projects will be worth between LE16 and LE18 billion ($2.04 - $2.3 billion). There are seven projects whose PPP bidding will be officially opened in 2015, worth an estimated LE10 billion ($1.3 billion), while two have already been made available to international PPP bidding this month, Hannoura told journalists at Monday’s Euromoney Egypt Conference. The projects under discussion span several sectors including water desalination, sanitation, sports and recycling. They do not include electricity projects, Hannoura said. The government’s ambitious initiative to reclaim one-and-a-half million feddans of land will not be offered through the PPP, he added. Contracts to build roads to the Suez Canal industrial hub are expected to be handed out via PPP said Hannoura. Following his election, president Abdel-Fattah El-Sisi announced several megaprojects aimed at creating jobs and powering the economy. Egypt is targeting a five percent growth in GDP in the fiscal year 2015/16 with investments worth LE417 billion ($53 billion), planning minister Ashraf El-Araby was quoted as saying in May by state-owned news agency MENA. |
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