Alameriah Investment Company to invest EGP 15 bn in Egypt’s New Alamein
INVESTMENT WATCH- Alameriah Investment Company is “gearing up” to invest EGP 15 bn in New Alamein City, Chairman Bandar Al Ameri said during a meeting between the Egyptian-Saudi Business Council and Prime Minister Moustafa Madbouly, according to a cabinet statement. Al Ameri told Madbouly he exited his investments in other countries in favor of bringing his business to Egypt, where he sees a promising investment climate.
The council also looked at investment prospects offered by Egypt’s SWF: Planning Minister Hala El Said discussed investment prospects offered by Egypt’s new sovereign wealth fund with representatives from the Egyptian-Saudi Business Council, according to a separate statement. The fund, which officially launched last month, wants to collaborate with other countries in the region, with its CEO, Ayman Soliman, scheduled to kick off a roadshow in the GCC early next month. The SWF has already established a USD 20 bn joint investment fund with the UAE, and is in talks with the Oman Investment Fund over a similar venture.