IPR Energy to invest $250M in Egypt until 2025: Chairman

Updated 2/22/2024 7:54:00 AM
IPR Energy to invest $250M in Egypt until 2025: Chairman

Arab Finance: IPR Energy Group Egypt is planning to invest $250 million in several projects across Egypt until the coming year, the firm’s Chairman Mahmoud Dabbous said in an interview with Asharq Business.

These projects are set to be carried out in the Western Desert, the Delta region, the South Valley, and the Gulf of Suez.

Dabbous highlighted that 65% of these funds will be self-financed, while the remaining amount will be borrowed from banks.

On February 19th, the group announced that it is planning to invest $110 million in new well-drilling projects in New Alamein City and Fayoum in Egypt.

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