CAIRO: Prime Minister Mostafa Madbouly convened a meeting to discuss the procedures for offering the Gebel El-Zeit Wind Power Plant, located south of Ras Ghareb, as part of Egypt’s broader privatization strategy.

According to State Information Service Egypt, Cabinet Spokesperson Mohamed El-Homossany reported that the meeting was held soon after the Prime Minister announced the plan to include the Gebel El-Zeit Wind Power Plant in a wider initiative to list public banks and companies by 2025. The discussions centered around identifying optimal mechanisms for offering the plant and strategies to maximize returns by collaborating with the private sector.

Prime Minister Madbouly stressed the importance of the government’s privatization efforts, expressing his commitment to accelerating the listing processes for the entities announced. He highlighted the potential benefits of private-sector partnerships in supporting Egypt’s economic development and ensuring maximum gains from these assets.

Recently, in Decembe
r, Madbouly disclosed plans to offer 11 companies in 2025, including Misr Pharmaceutical Industries, Gabal El-Zeit Wind Station, Wataniya Company, Safi Company, and Silo Food Company. During a press conference, he revealed that Wataniya and Safi are expected to be listed on the stock market by mid-next year as part of Egypt’s Initial Public Offering (IPO) program.