Cairo-based Hassan Allam Holding mulls plans to invest $150m in Morocco
Egypt’s leading engineering, construction and infrastructure company, Hassan Allam Holding, is considering investing up to $150 million in renewable energy and seawater desalination, in Morocco, the company’s CEO Amr Allam told Asharq Business in an interview.
“If we entered a partnership in a renewable energy plant with a capacity between 50 and 100 megawatts (MWs), then investments would range between $50 to $150 million based on the volume of the project and the value of our share in it,” Allam said in the interview on the sidelines of Choiseul Africa Business Forum.
He insisted that the holding is willing to invest in Morocco and that there are global partners who are ready to enter into partnerships with the company.
The first investment in the kingdom could come off in 2023, Allam also revealed.
The company based in capital Cairo is Egypt’s leader engineering, construction and infrastructure entity. It employs 35,000 people across the Middle East and North African region.
Allam on October 21st also indicated that the holding’s venture with the UAE’s Masdar for the green hydrogen project at the Suez Canal Economic Zone (SCZone) amount to $10 billion over a period between 7 and 10 years.
