{"id":608102,"date":"2023-10-15T00:00:00","date_gmt":"2023-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/"},"modified":"2023-10-15T00:00:00","modified_gmt":"2023-10-15T00:00:00","slug":"saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/saudi-healthcare-giant-invests-usd-100-mn-in-alex-project-plus-centamin-to-invest-usd-440-mn-in-egypt-over-two-year-period\/","title":{"rendered":"Saudi healthcare giant invests USD 100 mn in Alex project. PLUS: Centamin to invest USD 440 mn in Egypt over two-year period"},"content":{"rendered":"

INVESTMENT-<\/strong><\/p>\n

Saudi German Hospital\u2019s parent company is investing big in Alex: <\/strong>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<\/a>). Bait Al-Batterjee Group, which owns the Saudi German Hospitals Group, has made significant investments in Egypt and pledged in 2020 to invest EGP 40-50<\/a>bn<\/a> 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. <\/p>\n

MINING-<\/strong><\/p>\n

Centamin wants to turn USD into gold: <\/strong>LSE-listed gold miner Centamin wants to pump USD 440 mn into its Egypt operations within a two-year period, the company\u2019s CEO Martin Horgan said during a press conference, reports Al Borsa<\/a>. Centamin\u2019s capital expenditures for the year require USD 240 mn and a further USD 200 mn for 2024, in addition to funds for the group\u2019s Eastern Desert exploration project, where it currently operates Sukkari, the country\u2019s largest gold mine, the local outlet reported. <\/p>\n

Centamin\u2019s exploration plans are nearly underway:<\/strong> The gold miner reached a framework<\/a>agreement<\/a> with the Oil Ministry in July on the terms for several exploration concessions it was awarded in 2021<\/a>, including royalty and net income payments. The agreement still needs MPs\u2019 approval and is expected to come before the House later this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi German Hospital\u2019s parent group will invest the money in its Batterjee Medical City complex<\/p>\n","protected":false},"author":1,"featured_media":608103,"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":[7209],"tags":[111,2569,72,103,7093,7115,125,373,11164],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-608102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-centamin","tag-enterpriseam","tag-fdi","tag-gold","tag-healthcare","tag-investment-watch","tag-mining","tag-the-saudi-german-hospitals-group","wpautop","entry"],"acf":{"mongo_id":"acc658a1-6080-4de6-828b-1934ef4567ad","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/709.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi healthcare giant invests USD 100 mn in Alex project. 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