EBRD, IFC to advise on water desalination projects in Egypt
The Egyptian government has selected the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) as financial advisors for a series of water desalination projects proposed by the Sovereign Fund of Egypt.
According to a document issued by the Information and Decision Support Center of the Cabinet, which Daily News Egypt obtained, the government plans to offer four stations out of 21 stations in the first phase, which is expected to be awarded by the first half of 2024.
The document said that the total investment in the 21 water desalination projects, which will be implemented by the private sector between 2024 and 2026, amounts to more than $3.3bn. The projects aim to increase the water supply in coastal areas with a total production capacity of 3.3 million cubic metres per day in the first phase, and up to 8.8 million cubic metres per day in the second phase.
The document also said that more than 90 investors from 30 countries applied for the pre-qualification stage, and 17 alliances were qualified. The Sovereign Fund of Egypt worked in cooperation with the Ministry of Housing and the Participation Committee in the Ministry of Finance to prepare and evaluate the bids. The first offering of the stations will be in the fourth quarter of 2030.