Hussein explained that these investments would primarily focus on the infrastructure and renewable energy sectors.
Green Coast, an Emirati company, aims to invest $50 million in the Egyptian market over the next three years, according to Mohamed Abdel Ghafar Hussein, the company’s CEO, who spoke to Asharq Bloomberg.
Hussein explained that these investments would primarily focus on the infrastructure and renewable energy sectors.
The renewable energy investments will be part of decentralized projects in locations such as factories, parking lots, and shopping centers, while in the infrastructure sector, the company will focus on manufacturing.
The CEO of Green Coast also revealed that the company plans to open a packaging factory in Saudi Arabia during the first quarter of 2025 with an investment of $5 million.
Additionally, Green Coast intends to invest $200 million in renewable energy projects in Saudi Arabia over the next five years.
In November, The Future of Egypt Authority for Sustainable Development and the UAE’s Masdar Company for Renewable Energy signed two Memoranda of Understanding (MoUs) to develop and establish a 5 GW floating solar power project on Lake Nasser and a 2.8 GW solar power project in Nagaa Hammadi.
This partnership aims to strengthen clean energy infrastructure in both countries, reducing long-term costs and enhancing energy security.
UAE’s Global South Utilities and China’s JA Solar signed Memorandum of Understanding (MoU) to establish two solar energy factories in Egypt, in the presence of Prime Minister, Mostafa Madbouly.
The agreement involves setting up two production facilities, each with a capacity of 2 gigawatts: one for manufacturing solar cells and another for producing solar panels. These projects are pivotal in advancing Egypt’s clean energy ambitions.
