Egyptian PM meets Saudi ACWA Power chairman

Prime Minister Ibrahim Mahlab met on Thursday with Chairman of Saudi ACWA Power Mohamed Abunayan and his accompanying delegation.

During the meeting, attended by investment and electricity Ministers, Mahlab asserted that the government is completing the activation of all memorandum of understandings (MoUs) signed in Egypt's Economic Development Conference (EEDC) to implement projects in various areas.

Also, Mahlab put forward a proposal for ACWA Power officials to invest in water desalination projects in Egypt, stressing the government is pumping further investments in different sectors.

For his part, Abunayan said that the aim behind the meeting is to follow up the activation of (MoUs) inked in the EEDC to start setting up electricity projects in Egypt.

He added that the company has concluded a number of MoUs for projects estimated at USD 10 billion.

The projects, expected to be implemented by the company, will include producing electricity from clean coal, natural gas or new and renewable energy, he asserted.