{"id":593096,"date":"2019-11-18T04:24:05","date_gmt":"2019-11-18T04:24:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/"},"modified":"2019-11-18T04:24:05","modified_gmt":"2019-11-18T04:24:05","slug":"elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/","title":{"rendered":"Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, other Tharaa investments"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, Naguib looking at <\/strong><strong>other potential investments through Tharaa:<\/strong> Elsewedy Electric is looking into potentially competing to acquire a stake in the three combined-cycle power plants the company co-built with Siemens and Orascom Construction, <a href=\"https:\/\/hapijournal.com\/2019\/11\/17\/%d8%a3%d8%ad%d9%85%d8%af-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%af%d9%8a-%d9%86%d8%af%d8%b1%d8%b3-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d9%81%d8%b3%d8%a9-%d8%b9%d9%84%d9%89-%d9%85%d8%ad%d8%b7%d8%a9-%d8%b3%d9%8a\/\">CEO Ahmed El Sewedy tells Hapi Journal<\/a>. El Sewedy did not clarify whether his company is eyeing the 70% stake six international investors are already bidding for, or if it would look into some other form of partnership with Egypt\u2019s sovereign wealth fund, Tharaa. Actis, France\u2019s Engie, China Datang Overseas Investment, Edra Holdings, and Blacstone\u2019s Zarou <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/14\/actis-engie-datang-in-the-running-to-acquire-stake-in-egypts-combined-cycle-power-plants-6302\/\">are all competing<\/a> for the plant stake. Electricity Ministry source had said last week that Zarou is the top contender to acquire the stake, having submitted the best financial offer.<\/p>\n<p><strong>Elsewedy is also looking at other potential investments Tharaa will be offering up, including in the gas sector.<\/strong> El Sewedy noted that the fund may not necessarily have sufficient expertise in the sectors it\u2019s currently eyeing up, but said he expects the fund\u2019s management to tap experienced investors and partners to plug the gaps.<\/p>\n<p><strong>Naguib Sawiris, meanwhile, is keeping an eye out on a chance to invest with Tharaa in Egypt\u2019s mining sector<\/strong>, the Orascom Investment Holding Executive Chairman <a href=\"https:\/\/hapijournal.com\/2019\/11\/17\/%d9%86%d8%ac%d9%8a%d8%a8-%d8%b3%d8%a7%d9%88%d9%8a%d8%b1%d8%b3-%d9%85%d9%86%d9%81%d8%aa%d8%ad-%d8%b9%d9%84%d9%89-%d9%85%d8%b4%d8%a7%d8%b1%d9%83%d8%a9-%d8%a7%d9%84%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7\/\">tells Hapi Journal<\/a>. Naguib said he would want his gold investment ventures with Tharaa to be limited to providing financing, and would not be looking to acquire a management role in any mining companies or ventures through the fund. The business tycoon also signaled his readiness to bid for a chance to restructure and improve the performance of Egyptian companies in the industries he\u2019s familiar with. Among the projects he\u2019s currently eyeing outside the mining sector is the planned overhaul of the Mogamma\u2019 in downtown Cairo, as well as tourism investments in the area around the Grand Egyptian Museum.<\/p>\n<p>In other Tharaa news, <strong>our friends at EFG Hermes reportedly advised on the fund\u2019s USD 20 bn investment platform<\/strong> with Abu Dhabi Development Holding Company, <a href=\"https:\/\/ara.reuters.com\/article\/businessNews\/idARAKBN1XR0EN\">according to Reuters Arabic<\/a>. <strong>Helmy, Hamza & Partners<\/strong> also acted as legal counsel to Tharaa, two government officials tell the newswire. Tharaa and ADDH had signed the agreement last week to set up the joint investment fund, which will invest using a variety of structures in manufacturing, traditional and renewable energy, and technology, among other sectors. EFG declined Enterprise\u2019s request for comment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, Naguib looking at other potential investments through Tharaa: Elsewedy Electric is looking into potentially competing to acquire a stake in the three combined-cycle power plants the company co-built with Siemens and Orascom Construction, CEO Ahmed El Sewedy tells Hapi Journal. El Sewedy did not clarify whether his [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[152,72,2065,363,618,484,370,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593096","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-elsewedy-electric","tag-enterpriseam","tag-naguib-sawiris","tag-orascom-construction","tag-orascom-investment-holding","tag-siemens","tag-sovereign-fund-of-egypt","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"aac7b46e-4af7-4ac9-821d-cb5b53b0efd4","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[593091],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, other Tharaa investments - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, other Tharaa investments\" \/>\n<meta property=\"og:description\" content=\"Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, Naguib looking at other potential investments through Tharaa: Elsewedy Electric is looking into potentially competing to acquire a stake in the three combined-cycle power plants the company co-built with Siemens and Orascom Construction, CEO Ahmed El Sewedy tells Hapi Journal. El Sewedy did not clarify whether his [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-18T04:24:05+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, other Tharaa investments\",\"datePublished\":\"2019-11-18T04:24:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/\"},\"wordCount\":412,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Elsewedy Electric\",\"EnterpriseAM\",\"Naguib Sawiris\",\"Orascom Construction\",\"Orascom Investment Holding\",\"Siemens\",\"Sovereign Fund of Egypt\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/elsewedy-eyes-stake-in-egypts-combined-cycle-power-plants-other-tharaa-investments\/\",\"name\":\"Elsewedy eyes stake in Egypt\u2019s combined-cycle power plants, other Tharaa investments - 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Sources in the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/3\/970.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593417,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/egypts-tharaa-to-tap-financial-advisor-for-combined-cycle-plant-stake-sale-next-week\/","url_meta":{"origin":593096,"position":1},"title":"Egypt\u2019s Tharaa to tap financial advisor for combined cycle plant stake sale next week","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"Tharaa to tap financial advisor for combined cycle plant stake sale next week: Egyptian sovereign wealth fund Tharaa is set to select a financial advisor next week to assess the offers presented from international investors to acquire a 70% stake in the first of three Siemens \/ Elsewedy Electric \/\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/74.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593325,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants\/","url_meta":{"origin":593096,"position":2},"title":"Actis confirms it\u2019s bidding for a stake in Egypt\u2019s combined cycle plants","author":"enterpriseam admin","date":"25 November 2019","format":false,"excerpt":"Actis has confirmed it is in the running to acquire a stake in a combined-cycle power plant: Private equity giant Actis has formally submitted a letter of intention to acquire a stake in the Siemens \/ Orascom Construction \/ Elsewedy Electric combined-cycle power plants, Sherif El Kholy, partner and head\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/659.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592962,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/13\/zarou-is-egypts-top-contender-for-stake-in-siemens-power-plants\/","url_meta":{"origin":593096,"position":3},"title":"Zarou is Egypt\u2019s top contender for stake in Siemens power plants","author":"enterpriseam admin","date":"13 November 2019","format":false,"excerpt":"Zarou is the top contender for stake in Siemens power plants: Blackstone Group\u2019s Zarou is reportedly the frontrunner out of six investors looking to acquire a stake in the Siemens \/ Orascom Construction \/ Elsewedy combined-cycle power plants, unnamed Electricity Ministry sources tell Al Mal. The energy development company has\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/Electricity-power-plant-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593227,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/21\/tharaa-will-not-crowd-out-private-sector-soliman\/","url_meta":{"origin":593096,"position":4},"title":"Tharaa will not crowd out private sector -Soliman.","author":"enterpriseam admin","date":"21 November 2019","format":false,"excerpt":"Tharaa wants to engage with \u2014 not crowd out \u2014 the private sector -Soliman. The CEO of Egypt\u2019s sovereign wealth fund, Tharaa, denied wanting to crowd out the private sector, telling Bloomberg that the fund wants to attract fresh capital to the market by engaging with private firms (watch, runtime:\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/3\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591472,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/hsbc-and-citibank-compete-for-combined-cycle-stake-sale-role\/","url_meta":{"origin":593096,"position":5},"title":"HSBC and Citibank compete for combined cycle stake sale role","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"PRIVATIZATION WATCH- HSBC and Citibank are competing to act as financial advisor on combined-cycle plant stake sale: Egypt\u2019s sovereign wealth fund is mulling offers from HSBC and Citibank to advise on the sale of a 70% stake in the first of three Siemens \/ Elsewedy Electric \/ Orascom Construction combined-cycle\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=593096"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593096\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593091"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593096"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593096"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}