Rajhi Group to invest EGP 2.5 bn on solar-powered land reclamation in Toshka

INVESTMENT WATCH- Saudi’s Rajhi Group plans to invest over EGP 2.5 bn to reclaim 17,000 feddans in the Toshka project, sources close to the matter tell Al Mal. Feasibility studies to determine the exact cost as well as the types of crops that will be grown should wrap up by 15 August, according to the sources, who add that the high price tag is due to the fact that the company intends to rely entirely on solar power for its work on the project. The group has already developed 13,000 feddans from a total 100k they have been allocated in Toshka.