Cairo - Mubasher: Egypt's sovereign wealth fund (SWF) is currently targetting to build the largest strategic storages for medical products and devices across the Arab region and Africa.
The investment will be carried out via the establishment of a strategic storage company for that purpose, according to a cabinet statement on Monday.
The cabinet meeting was attended by the fund’s CEO Ayman Soliman, Prime Minister Moustafa Madbouly, and Minister of Planning Hala El Said.
El Said previewed a report on the situation of the sovereign fund’s projects and clarified the suggested structure of the new company’s ownership, which will be in partnership with the Egyptian Authority for Unified Procurement, Medical Supplies and Technology.
In addition, she highlighted the proposed costs of the project and its financing structure, which will be financed by one of the banks.
The prime minister advised to speed up the implementation of the project, noting that President Abdel Fattah El-Sisi stressed the importance of starting the project works at the soonest.
