Egypt’s Qalaa Holding to invest EGP10bln over 3 years

By Sanaa Allam On Feb 29, 2020

Ahmed Heikal Qalaa Holdings — Qalaa Holdings Chairman Ahmed Heikal at Qalaa's section at the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 14, 2015. (Photo Credit: REUTERS/Amr Abdallah Dalsh)

Egypt’s Qalaa Holdings, one of the country’s largest investment companies, to invest 10 billion Egyptian pounds through its subsidiaries with the next three years, according to its Chairman and Founder Ahmed Heikal .

He added that there are 100 investments opportunities in his company which is working in various fields including transportation, chemical and petroleum products, logistics, and agricultural and industrial production.

Heikal also noted that the investment plan include expanding in the Egyptian Refining Company to add 1.2 million tonnes reaching 6 million tonnes while expanding in Dina Farms.

Qalaa Holdings was founded in 2004 by two entrepreneurs as Citadel Capital, a private equity firm with EGP 2 million in capital. By 2012, the company became the leading private equity firm in the Middle East and Africa with 19 Opportunity-Specific Funds controlling platform companies with investments of USD 9.5 billion.

Investments spanned 15 countries and 15 industries including energy distribution, solid waste management, agrifoods, cement, refining, transportation and glass manufacturing.