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Wednesday, 11 May 2016

KACO New Energy to boost investment by EGP 500 mn over next four years

Germany’s KACO New Energy wants to boost investments in the Egyptian market by EGP 500 mn over the next four years, COO Kaddour Essersi told DNE at the conference. The company aims to participate in 10 of 36 new and renewable energy projects in Banban, partnering with Italian and Chinese companies in addition to Orascom Construction Industries. The company plans to fund its projects in the region with the help of the Saudi Fund for Development. “The loan will be repaid over 18 years, including a three-year grace period in addition to 15 years for repayment,” Essersi said.

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