ADQ
According to the release, the Ras El Hekma megaproject is expected to contribute approximately $25 billion annually to Egypt's GDP and create around 750,000 jobs, with projected cumulative investments reaching $110 billion by 2045
In an official statement, Madbouly also stated that Egypt is working with the UAE to waive an Emirati deposit of $6 billion in the Central Bank of Egypt (CBE) and convert it to Egyptian pounds
Reportedly received by Egypt on Sunday, the tranche consisted of $14 billion and $6 billion currently held from a previous deposit by the UAE at the Central Bank of Egypt (CBE)
ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent by ADNEC
The integrated industrial partnership between the UAE, Jordan and Egypt, was announced at the conference held in Abu Dhabi on Sunday, May 29.
Alsuwaidi elaborated , according to a statement, that ADQ has implemented many investment opportunities in pursuit of strong commercial benefits and sustainable growth since the launch of a strategic investment partnership platform with the Sovereign Fund of Egypt, valued at $20 billion.
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