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Wednesday, 16 March 2022

Gov’t releases planned ownership structure of new private-public EV charging stations company

More details on the EV charging station company PPP: The private sector partners in the soon-to-be-established company for EV charging stations will hold a 55% stake (including a 25% stake for the operating and managing firm), Masrawy quoted Public Enterprises Minister Hisham Tawfik as saying. The remaining 45% will be owned by the ministry. Each stakeholder will put up a corresponding portion of the venture’s initial EGP 150 mn capital, with another EGP 300 mn to be raised from local banks. The company will set up 3k charging stations within 18 months in Cairo, Alexandria, Giza, Sharm El Sheikh and several highways.

Reminder: Companies looking to operate and manage the company have until this Thursday, 17 March to submit their bids, with the ministry set to announce the qualified bids the following Thursday, 24 March. The private sector partner selected to manage and operate the company will be locked in with a medium-term contract for its services in exchange for a portion of the company’s net income.

ALSO- Shatablee is partnering with EGX-listed Contact Financial Holding to provide financing options for its customers (pdf). The interior design startup recently received USD 1.2 mn in investment.

Other things we’re keeping an eye on this morning:

  • British energy services company Petrofac will conduct an early-stage feasibility study on a new green hydrogen / ammonia facility for a subsidiary of low-carbon energy firm Mediterranean Energy Partners, which is chaired by Alaa Arafa, industry magnate and founder of Dolphinus Holdings.
  • Pepsico spent USD 100 mn on expanding production and upgrading the tech infrastructure of its Egyptian business lines in 2021.
  • Hitachi Rail will prepare a feasibility study for the operation and maintenance of the fourth metro line.

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