Citadel to inject EGP 170 mln in Gezour, Wafra

Citadel Capital is planning not to venture in new companies. However, it will focus on pumping investments in agriculture and food sector via Gezour and Wafra, in addition to petroleum refinery project, Taqa Arabia expansions and Nile transportation, while disengaging from a number of other investments, Hisham El-Khazindar, Co-Founder and Managing Director said.

In an interview with Al Mal Magazine, the top official pointed out that his company is studying to allocate EGP150 million additional investments for Gezour Group expansions that will be financed from Al Rasheedy Al Mizan acquisition over 25 % remaining stake of Al Moshref Co. in Q2, in a deal worth around $ 1-3 million.

The EGX-listed investment company mulls adding around EGP 15-20 million to bolster Wafra’s expansion plans this year, El-Khazindar said, ruling out seeking more land in Sudan.