Hisham Tawfik, Minister of Public Business Sector, held a meeting with the founders of the “Egypt Electric Vehicle Charging Stations” company to follow up on the final procedures for establishing the company, in the presence of Ayman Soliman, Executive Director of Egypt’s Sovereign Fund, Basel El Heni, Executive Managing Director of Misr Insurance Holding Company, and representatives of Hassan Group Allam Holding.
Misr Electric Vehicle Charging Stations Company aims to establish and operate 3,000 dual chargers as a first phase within 18 months, covering all highways and the governorates of Cairo, Giza and Alexandria.
The Sovereign Fund of Egypt and the Misr Insurance Holding Group’s contributions are each worth 30% of the starting capital, while one of Hassan Allam Group companies contributions is worth 20%, making the total capital valued at 120 million EGP, which will increase after selecting the technical partner to reach 150 million EGP.
During the meeting, the final procedures for the establishment of the company were followed up, as well as the updates and stages reached regarding the tender offered between companies qualified to operate, manage and contribute to the company’s capital, which was extended until August 31 to give more time for receiving companies’ offers.
The winning company will assign a specialized consultant firm to select the stations’ sites from an initial list of more than 2,000 sites.
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