BUSINESS

Alfanar to invest SR2 billion in Egypt

June 30, 2022

CAIRO — On the sidelines of the Crown Prince Mohammed bin Salman bin Abdulaziz’s visit to Egypt last week, Alfanar Global Development signed agreements worth almost SR2 billion with Arab Organization for Industrialization and Benya Holding Group at the headquarters of the General Authority for Investment and Free Zones in Cairo.

The agreements are focused on localization of technology for renewable energy, and implementation of IT projects, digital solutions, data centers and cybersecurity, respectively.

Engineer Amer AlAjmi, Executive Vice President said, “Alfanar has been present in international markets including the Egyptian market for many years now through our renewable energy projects. In Egypt, we have also contributed towards 50MW at the Benban Solar Park. We look forward to making more investments in Egypt and Africa.”

Alfanar has gained a growing regional and international reputation by diversifying its portfolio of projects and services globally. Today, the company serves businesses across the digital solutions, energy, water, oil and gas, social infrastructure and healthcare sectors through its various business divisions and sub-brands.


June 30, 2022
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