Egypt-Kuwait Holdings to unveil project in Saudi Arabia
The project covers oil and gas and the company has already secured most of the needed capital, Jon Rokk told the Saudi daily Asharqalawsat on Sunday.
'We will announce the project within 2 to 3 months...it is our first investment in Saudi Arabia and a promising project in the oil and gas sector,' he said.
'We have planned for this project for a long time...we have secured most of the capital spending for the project and we have reached the final stage in preparation for starting operations....we expect to achieve revenues within a few months,' he added.
Rokk did not provide further details but said the company is studying new investment opportunities worth $150-200 million in the region during 2025 and 2025 as part of an 'expansion strategy' in MENA.
EKH, which is listed on Egyptian and Kuwaiti bourses and owned by businessmen from the two countries, announced last week that it recorded a net profit of around $185 million and total earnings of nearly $642 million during 2024.
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