By Mahmoud Gamal

Kuwait – Mubasher: Kuwait-based Privatization Holding Co. is planning to expand in solar power projects in Egypt and Jordan, according to a company official.

Speaking to Mubasher, the official added that his company reached an initial agreement with the Egyptian government to set up a solar power generation projects at a value of around $100 million (EGP 800 million) in Aswan governorate over an execution period of twenty years.

Privatization Holding will sign an agreement this year with Egypt’s government, under which it will produce and sell solar power, the company official said.

He also revealed that his company intends to expand in Jordan’s energy sector.

The Kuwaiti-listed company took a positive turn in its financial results for the fiscal year 2014, as it posted KWD 5 million, with EPS reaching 0.7 fils, against KWD 1.3 million in losses a year earlier.

Translated by Sayed Abdel Rahman