Electricity Ministry to establish 4 companies to manage projects under 2017-2022 plan by July

The four companies which will manage the Siemens plants will be established before July 2017, Electricity Minister Mohamed Shaker tells Al Mal. The ministry has completed its outline of the companies’ administrative structure and is currently coordinating with NI Capital to prepare the financial valuations for the projects that will be managed by the new companies, Shaker says. There was previous talk that the companies will be part of the state IPO program.