More companies for sale in Egypt's successful privatization effort , says minister Ebied

Egyptian Minister of Public Enterprises Atef Ebied inaugurated today a symposium regulated by the US Chamber of Commerce in Egypt around projects involved in Egypt's privatization program.

During the symposium, they will promote the privatization of 16 companies for sale to foreign investors.

The symposium, considered the first initiative for a work organization in Egypt, is paving the way for marketing conferences to be held by the chamber in the U.S. and Britain, in cooperation with the International Mediation Department and Merrill Lynch International during the first week of November to promote privatization program.

Moreover the head of the chamber, Dr. Ahmed Shawki, said that 60 investors from the U.S., Europe and Gulf countries who are interested in buying the companies are going to participate in the symposium and will discuss with the public enterprise minister the purchase of these 16 companies.

The sources confirmed that the companies for sale include El-Wark El-Ahlia, Zakta, Verta, Abu Zaabel for Concrete, Alex, Cairo Tanta and El-Nile for oil, the General Company for Electric Projects, and the General Company for Construction.