Egypt awaits Saudi PIF’s decision on investing in EGX-listed Egyptalum

RIYADH: Egypt is waiting for Saudi Arabia’s Public Investment Fund to make a decision on investing in the state-owned aluminum company Egyptalum by the end of the year, according to Hisham Tawfik, the minister of public enterprise sector.

Tawfik added that the investment includes increasing the company’s capital, rather than selling a stake, he told Asharq.

Talking about investments amounting to $300 million, the minister said it will rehabilitate the factory to produce efficiently for the next 20 years.