Zarou, a MENA-focused energy development company, plans to invest $1 billion in Egypt’s energy infrastructure in 2020, according to the Cabinet.
Sameh Shenouda, Zarou’s CEO, affirmed the company’s plan to invest in several projects in various fields in Egypt. He added that the company aims to pump $1 billion worth of investments in water, electricity, and petroleum pipelines.
This came during a meeting with Prime Minister Moustafa Madbouly, who welcomed all new investments in developing Egypt’s infrastructure, especially in the fields of electricity and energy. The prime minister noted that several obstacles facing investors were eliminated and that the state is taking new measures to facilitate investing mechanisms in various development projects.