ArabFinance: Nearly 11 Arab and International companies are planning to officially submit their offers to bid on desalination projects in Egypt, government sources told Al Borsa News.

These projects are set to be carried out with a total estimated investment of up to $2.8 billion, the sources highlighted.

The companies include ACWA Power, Hassan Allam, Al Nowais Group, Schneider Electric, Orascom Construction, and Matito, in addition to, other Chinese, Japanese, American, French, and German companies, they added.

Moreover, the sources noted that these companies are allocating huge investments to establish desalination projects in Egypt as per the government’s plan which targets bringing total desalinated water to 2.9 million cubic meters per day in five years.

The interested companies have initially partnered up with Arab and global financing entities to fund the projects, including International Finance Corporation (IFC), European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), HSBC, and others, they said.

The Egyptian government has already received over 62 unofficial offers from Egyptian, Arab, and foreign companies to implement the desalination projects.