Egypt seeks stake sale in $6.5 billion Siemens power stations

Egyptian officials have engaged in discussions with German banks regarding the potential sale of shares in the Siemens power stations in the country.

Approval from the banks is required due to financing contracts that prohibit the disposal of the stations without their consent or the repayment of loans.

These conversations took place following a meeting between Prime Minister Mustafa Madbouly and Egyptian officials to discuss the steps involved in offering the Siemens power station in Beni Suef to investors, reported Asharq Business reported, citing three officials.

In 2018, Egypt inaugurated three large power stations in collaboration with Siemens, Orascom Construction, and El Sewedy Electric.