Within the framework of its Public-Private-Partnership (PPP) system, Egypt has selected three private sector companies to establish, design, supply, and finance four strategic warehouses for supply commodities, revealed Minister of Finance Mohamed Maait.

“This action comes under Egypt’s President Abdel-Fattah El-Sisi’s directives to expand partnerships with the private sector and raise its contribution to the country’s GDP. Accordingly, a number of contracts will be inked over the coming weeks under the PPP system and in collaboration with the concerned bodies,” Maait explained.

The companies selected work on the warehouses were Orascom Constructions PLC, Hassan Allam Holding, and Samcrete.

The warehouses will be built over an area of 10 acres with a storage capacity of 75,000 storage units each, costing a total of EGP 3.2 billion, added Maait.

The Ministry of Finance has already submitted the assignment’s draft contracts to the Internal Trade Development Authority and investors for review before sending it to the Egyptian Council of State for legal review, and then signing them.

“These efforts aim to boost the sustainable and inclusive development in Egypt, improve the standard of living, uplift the quality of services extended to the citizens, increase economic growth rates, and create more jobs.”

The Minister added that other projects to be executed within the PPP system will include waste management to utilise waste in generating electricity.

These projects are expected to be implemented in eight governorates and are being considered by the finance ministry in collaboration with the Ministries of Environment and Local Development, adding that each project will have a total capacity of 1000 tons per day as a first phase, he added.

The total investment cost of these projects amounts to EGP 7 billion, according to the minister.