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Sunday, 4 June 2017

Misr Financial Investment Company to establish renewable energy subsidiary

The state-run Misr Financial Investment Company (MFIC) will establish a new renewable energy arm in July to build two 20 MW EGP 120 mn waste-to-power generation stations in Kafr El Sheikh, MD and Chairman Atef Al Mahmoudi tells Daily News Egypt. MFIC, a subsidiary of Misr Holding for Insurance, plans to put up EGP 36 mn, or 50%, of the company’s capital through the Misr Investment Fund, with the balance secured through bank loans.

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