An as-yet unnamed Saudi fund is reportedly looking to invest EGP 3 bn in developing a clinker factory and its accompanying power plant in partnership with one of six companies bidding on the eight the new cement license, Al Borsa reports. This mystery fund had apparently tapped Premiere Securities to act as financial advisor for the project, which has apparently garnered interest from numerous cement companies including Lafarge Egypt, said the firm’s managing director Ahmed Abdel Ghany. The fund is ready to transfer the first EGP 1 bn payment for the first phase of the project at the end of the month should an agreement is reached, claims Abdel Ghany in a statement clearly meant to entice potential partners.