Arab Finance: Egypt has offered six companies for partnership with the private sector under the state’s initial public offering (IPO) program, Minister of Public Business Sector Mahmoud Esmat told Asharq Business. 

Two of the offered companies are operating within the pharmaceuticals sector, Esmat pointed out.

He also noted that Egypt Aluminum's (Egyptalum) production reached 300,000 tons in 2023, adding that the maximum capacity of the factory is 320,000 tons. 

Additionally, Esmat said that the government had pumped $3 million to buy raw materials for the renovation of Misrayon and Polyester Fiber Co. 

The government received several offers from the private sector last week to establish a university on Egyptian Iron and Steel Company’s land, Esmat pointed out, adding that the studies conducted for the utilization of this land are expected to be finalized within three to six months.

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