Prime Minister, Mostafa Madbouly, witnessed the signing of several cooperation agreements between the Sovereign Fund of Egypt for Investment and Development, the Armed Forces’ National Service Projects Authority, and a group of specialized local and international consultancy firms.

The agreements pertain to the restructuring and offering of a group of companies affiliated with the Authority.

The companies to be offered from the National Service Projects Authority include the National Petroleum Company, Wataniya (Chill Out), Silo Foods for Food Industries, Safi Water Company, and the National Roads Company.

According to the agreements, some of these companies are scheduled to be offered in 2025, with the remaining offerings to be completed in 2026.

The signing aims to transfer the ownership of the selected companies to the Sovereign Fund of Egypt, in line with the government’s steps toward implementing its privatization program.

 This includes offering state-owned enterprises to the private sector for management and operation, in accordance with the State Ownership Policy Document adopted by the government.

These offerings will be managed and executed by a consortium of expert local and international advisory firms under a framework agreement previously signed between the National Service Projects Authority and the Sovereign Fund of Egypt.