Mahmoud Attalla, vice chairman and CEO of CI Capital, the investment branch of the Commercial International Bank (CIB), said the group will promote three government projects during the economic conference scheduled to take place this month. The total cost of the projects is estimated at LE5 billion, he told Al-Masry Al-Youm.
The first project, proposed by the Transportation Ministry, is the construction of a dry port, either in 6th of October or 10th of Ramadan City.
The location of the second project, establishing a residential community, a mall and administrative offices, has not been disclosed, but Attalla stressed that the government has provided the land on which the project will be built.
The third one is related to an energy-saving electricity network, which will be connected to the Internet, he said.
The bank’s role will be to promote the projects during the conference, and to review the profits they will generate, Attalla added, stressing that CI Capital will be the government’s financial adviser for the three projects. The bank will get its commission from the government and from every project that the investors decide to carry out.
The Investment Ministry, according to Attalla, is cooperating with several investment banks to promote the projects during the economic summit. The CIB group has selected three large profitable projects to be reviewed during the conference, he added.
After banks submit the project documentation to the investors, they will carry out feasibility studies for each of them within no more than six months.
Edited translation from Al-Masry Al-Youm
