Arab Finance: The Egyptian cabinet has approved moving forward with the procedures to offer the wind power plants in the Gabal El-Zeit area, with a capacity of 580 megawatts, as part of the government’s initial public offering (IPO) program, as per a statement.

The approval reflects the government’s commitment to its previously announced IPO plan, which seeks to expand private sector participation in economic activity, widen ownership, and ensure more efficient use of state assets.

The program is designed to improve the performance of state-owned assets, maximize their economic return, and strengthen transparency and governance. 

The government continues to implement steps aimed at making the Egyptian market more attractive to both local and foreign investors.

The plan includes offering shares in several major companies operating in the energy, logistics, industrial, and telecommunications sectors.

This move accompanies broader economic and structural reforms intended to support growth, create jobs, and enhance Egypt’s ability to draw additional investment.

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