INVESTMENT WATCH- Saudi’s Andalusia for Medical Services plans to invest EGP 1 bn in building two hospitals in Egypt, CEO Hazem Zagzoug told Prime Minister Mostafa Madbouly yesterday, according to a Cabinet statement. The company is currently working on buying two land plots from the New Urban Communities Authority (NUCA), one in 6 October and the other in New Cairo. The company is also planning to expand one of its existing hospitals, which is located in Maadi, Zagzoug said. The group, for whom the European Bank for Reconstruction and Development (EBRD) had approved a USD 24 mn loan late last year, had announced back in 2016 that it was investing USD 50 mn over three years.

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