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Sunday, 13 January 2019

Apicorp to invest USD 1 bn in five countries, including Egypt, in 2019

INVESTMENT WATCH- Apicorp to invest USD 1 bn in five countries, including Egypt, in 2019: Egypt is one of five countries in which the Arab Petroleum Investments Corporation (Apicorp) plans to invest a total of USD 1 bn this year, CEO Ahmed Ali Attiga said, according to Bloomberg. Apicorp is also looking to Iraq, Libya, Morocco, and the US. “Borrowings by energy producers in the six-nation Gulf Cooperation Council plunged 24 percent last year as oil prices hit a four-year high,” pushing the company to look outside the Gulf to expand its portfolio. Apicorp is also looking at assets relate to “the transformation of the energy sector in this region: renewables, energy efficiency, technology, and anything related to it,” Attiga said.

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