INVESTMENT-

Saudi German Hospital’s parent company is investing big in Alex: Saudi healthcare giant Bait Al-Batterjee Group is investing USD 100 mn into its Batterjee Medical City in Alexandria through its healthcare investment platform Humania, Humania CEO Aamir Rehan told Asharq Business (watch, runtime: 1:16). Bait Al-Batterjee Group, which owns the Saudi German Hospitals Group, has made significant investments in Egypt and pledged in 2020 to invest EGP 40-50bn over a 15-year period. Humania currently has financing commitments in North Africa of more than USD 350 mn, Rehan added, with that value expected to grow.

MINING-

Centamin wants to turn USD into gold: LSE-listed gold miner Centamin wants to pump USD 440 mn into its Egypt operations within a two-year period, the company’s CEO Martin Horgan said during a press conference, reports Al Borsa. Centamin’s capital expenditures for the year require USD 240 mn and a further USD 200 mn for 2024, in addition to funds for the group’s Eastern Desert exploration project, where it currently operates Sukkari, the country’s largest gold mine, the local outlet reported.

Centamin’s exploration plans are nearly underway: The gold miner reached a frameworkagreement with the Oil Ministry in July on the terms for several exploration concessions it was awarded in 2021, including royalty and net income payments. The agreement still needs MPs’ approval and is expected to come before the House later this year.

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