Sisi says ready to extend support to Adani Group and its future projects in Egypt
Friday، 27 January 2023 - 11:24 AM
Egyptian President Abdel Fattah said he welcomed Adani Group's interest in investing in Egypt, asserting Cairo's readiness to extend all necessary support to the group and its future projects especially the cooperation with Egypt's Sovereign Fund in the newly established modern harbors on the Mediterranean, the Red Sea and the Suez Gulf.
This came during Sisi's meeting with Adani Group Founder Chairman Gautam Adani, the world's third richest person, in his residence in New Delhi.
Presidential Spokesman Bassam Radi said that Adani expressed his honor over meeting with President Sisi, asserted that his group was seeking to develop its cooperation with Egypt in light of the strong will and supportive political decision of the highest ranks in Egypt with the aim of bolstering development and amid luring and stable investment climate that Egypt is enjoying in the Middle East region.
Adani said that his group's interest in cooperating with Egypt complies with its policy of international expansion as the group is currently assessing many attractive investment opportunities in the emerging markets which are friendly with India.
Adani Group is an Indian conglomerate based in the state of Gujarat, having a market capitalization of approximately dlrs 260 bn (as of September 19, 2022). It comprises seven publicly listed companies with businesses across sectors of energy, ports & logistics, mining & resources, gas, defence & aerospace and airports.
Adani Chairman asserted that his group is intending to establish partnerships with Egypt's Sovereign Fund in view of its diversified activities and resilience.