APICORP Establishes Agreement to Expand its Energy Portfolio in Egypt

The Arab Petroleum Investments Corporation (APICORP) has recently announced that it has established a strategic partnership agreement with the state-owned Egyptian Electricity Holding Company (EEHC). The agreement aims to expand APICORP`s investment portfolio in the energy sector in Egypt, one of the fastest-growing markets in the region.

Under the agreement, APICORP will work with EEHC to identify investment opportunities in various areas of the energy sector, including electricity generation, transmission and distribution, renewable energy, and natural gas. APICORP will also provide financial and technical support to EEHC`s ongoing projects and initiatives, which are expected to contribute to the development of the country`s infrastructure and economic growth.

APICORP`s Chief Executive Officer, Dr. Ahmed Ali Attiga, highlighted the significance of the partnership, stating that “Egypt is a key market for APICORP`s investment strategy, and we are committed to supporting the country`s development goals. Our partnership with EEHC will enable us to leverage our energy expertise and financial capabilities to contribute to the growth of the energy sector in Egypt.”

This partnership comes as part of APICORP`s ongoing efforts to expand its investment portfolio in the region, particularly in the energy sector, which has been identified as a key area for growth. APICORP has been actively investing in the region`s energy sector for over 45 years, providing financing and investment solutions to support the development of the industry.

Egypt has been working to diversify its energy mix and reduce its reliance on fossil fuels, with a focus on increasing the share of renewable energy sources in its electricity generation. The country has set a target of generating 42% of its electricity from renewable energy sources by 2035, with a total capacity of 20GW. This presents a significant investment opportunity for APICORP, which has been actively investing in the renewable energy sector in the region.

In conclusion, the partnership between APICORP and EEHC represents a significant step towards expanding APICORP`s investment portfolio in Egypt`s energy sector, and supporting the country`s efforts to diversify its energy mix and promote economic growth. With its expertise and financial capabilities, APICORP is well-positioned to contribute to the development of the industry, and drive sustainable energy solutions in the region.