Deals
Egypt Mulls Blackstone Unit Offer to Take Over Power Plants
- Three facilities co-built by Siemens were inaugurated in July
- Edra also interested in deal that could ease Egypt debt burden
Siemens power plant in Egypt in 2017.
Source: Siemans
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Egypt is considering offers from a Blackstone Group unit and Edra Power Holdings Sdn Bhd of Malaysia to take over three power plants co-built by Siemens AG -- a move that could cut the North African nation’s debts while bringing in much-needed foreign investment.
Both Blackstone’s Zarou Ltd. and Edra have voiced interest in the state-owned facilities, according to Egypt’s electricity minister, Mohamed Shaker. The plants, which have a total capacity of 14.4 gigawatts, were inaugurated in July as the latest in a series of large-scale infrastructure projects under President Abdel-Fattah El-Sisi.