Egypt expects nearly 27 billion Egyptian pounds ($562 million) of investments in public-private partnership (PPP) projects in the current fiscal year, the country’s Finance Minister was reported on Wednesday as saying.

Ahmed Kouchok said the country managed to attract around EGP19.8 billion ($412 million) in PPP projects in various sectors in the 2023-2024 fiscal year, which ended on 30 June.

“We are targeting six new large projects in the current fiscal year with a total value of around EGP27 billion, covering electricity, water sewage and other sectors,” the Minister said, quoted by the Arabic language daily Addustour.

Kouchok said the PPP projects provide “competitive” opportunities for the local and foreign business community to invest in Egypt and it is considered an “alternative to public investments” in the country.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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