Egypt is close to agreeing the $420mn sale of the state-owned 580MW Gebel El Zeit wind farm on the Gulf of Suez, marking the first significant asset sale of Cairo’s privatization program (MEES, 19 September 2025).
Dubai-headquartered infrastructure investor Alcazar is the reported buyer, according to Egyptian business portal Enterprise News, citing a government source. Reducing state involvement in the economy through a privatization program has been a key condition of the IMF’s $8bn loan package program, but progress has been extremely slow (MEES, 8 March 2024). (CONTINUED - 661 WORDS)
