Minister of International Cooperation Rania Al-Mashat and Minister of Public Enterprise Sector Hisham Tawfik have met with a number of international financing institutions to review the Egypt Aluminium Company’s (Egyptalum) expansion plan.
During the meeting, discussions were also held on the restructuring and technical reform programme of state-owned companies.
The meeting was attended by representatives from the European Bank for Reconstruction and Development (EBRD), the World Bank, the European Investment Bank (EIB), the International Finance Corporation (IFC), and the African Development Bank (AfDB).
The two ministers reviewed the possibility of public business sector cooperation with a number of international financing institutions, in financing a variety of projects. This would include a project to upgrade production at Egyptalum, at an estimated cost of EGP 13bn and an annual capacity of 250,000 tonnes.
A tender has been launched aimed at global consulting offices to determine the technical specifications required for the project. This will also see a feasibility study for the project conducted, with the bidding deadline set for 15 July.
Tawfik also reviewed, during the meeting, structural reforms of public enterprise sector companies affiliated with his ministry, and measures to improve their governance.