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Monday, 14 October 2019

Saudi-Egyptian Industrial Development Company to invest USD 40 mn in new sectors by end of 2020

INVESTMENT WATCH- The Saudi-Egyptian Industrial Investment Company (SEII) has earmarked USD 40 mn to invest by the end of 2020, CEO Ahmed Ata tells the press. SEII is currently mulling four new investment prospects, the largest of which is in an unnamed energy company. The company is looking to diversify its USD 60 mn portfolio away from a focus on pharma and toward the food and beverage, energy, and technology sectors.

Portfolio: SEII owns two stakes in EGX-listed Arab Cotton Ginning and October Pharma, and in medical supplies manufacturer Farcomake. It also owns shares in Misr Compressor Manufacturing and Arab Medical Packing (Flexipack) as well as a stake in state-owned Alexandria For Petroleum Additives (Acpa) that it is looking to divest the near-term.

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