Saturday 22 Feb
Minister of the Public Business Sector, Mohamed Shimi, met with Hilda Klemetzdal, the Norwegian Ambassador to Egypt, and her delegation to discuss strengthening cooperation and reviewing the progress of joint projects in business and sustainable energy.
The meeting, which included Mohamed Amer, Vice President of the Middle East and Africa region at Scatec, a leading Norwegian renewable energy company, focused on the joint project between the Ministry's affiliated Egypt Aluminum Company and Scatec. This project involves building a 1-gigawatt solar power plant to supply clean energy to the Nagaa Hammadi aluminum complex. The $750 million project is being implemented in two 500-megawatt phases.
Shimi and Klemetzdal also explored promising investment
opportunities within the Ministry of Public Business Sector's portfolio of
companies and discussed ways to expand collaboration across various industrial
sectors.
The Minister expressed his desire to deepen cooperation
between the two countries in diverse economic and industrial areas and attract
further Norwegian investment.
Shimi emphasized that the solar power plant project is part of a comprehensive and ambitious development plan for the Egypt Aluminum Company. This plan aims to increase production capacity, introduce new products, and aligns with the Ministry's commitment to Egypt's 2030 vision for sustainable development and the transition to a green economy. The project also supports the alignment of affiliated companies with global manufacturing standards, sustainability, and a clean environment. This, in turn, enables the Egypt Aluminum Company to maintain its export activities and expand further into foreign markets, as it currently exports over 50% of its production abroad, primarily to European Union countries.
