Egypt affirms Egypt's keenness to attract FDI in power generation

CAIRO – 9 February 2021: President Abdel Fattah El-Sisi affirmed Egypt's keenness to attract foreign direct investment (FDI) in the field of new and renewable energy generation.

Sisi clarified that this comes within the framework of commitment to the global goals of environmental protection and combating global warming, as well as working to exploit the diverse natural resources that Egypt enjoys in this field, in favor of development uses, as well as in energy-intensive heavy industries.

This came during President Abdel Fattah El-Sisi receiving ,Tuesday, the chief executives of a number of Belgian companies, namely the DEME company for dredging works, Antwerp Port Company and the Fluxys company, in the presence of Prime Minister Mustafa Madbouly, and Minister Electricity and Renewable Energy Mohamed Shaker, Minister of Petroleum and Mineral Resources Tarek el-Molla, Commander of the Navy Lieutenant General Ahmed Khaled,  and Ambassador of the Kingdom of Belgium in Cairo Francois Cornet.

Ambassador Bassam Rady, spokesperson for the Presidency of the Republic, stated that the meeting discussed "prospects for cooperation with the coalition of those Belgian companies to invest in green hydrogen production for power generation."