CAIRO: Egypt’s new sovereign wealth fund plans to acquire a stake of about 30% in power plants co-built by Siemens AG with international investors taking the rest, part of its drive to spur greater foreign participation in the Middle East’s fastest-growing economy.
The fund’s initiative is the latest involving the three state-owned plants, which cost about 6 billion euros (US$6.62bil) and were inaugurated in mid-2018 as one of a string of major infrastructure projects in the North African nation under President Abdel-Fattah El-Sisi.
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