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Citadel eyes $4bn investment in Egypt over three years Private equity firm is looking to the infrastructure and energy sectors for its next projects, says chairman
Egyptian private equity firm Citadel Capital plans to invest $4 billion or more in Egypt over the next three years and has an eye on infrastructure and energy-related projects, its chairman said on Tuesday. Citadel, which focuses on the Middle East and Africa, has already invested $4 billion in Egypt since January 2011, when an uprising erupted that toppled President Hosni Mubarak, the company's chairman and founder, Ahmed Heikal, said. "I met a number of government officials and we think we are ready to invest a significant amount of money, probably higher than the $4 billion over the next three years," he told a business conference in Cairo, organised by Euromoney. "We identified a number of opportunities in the energy efficiency, infrastructure sphere," he said. The firm secured $3.7 billion in financing for an Egyptian petroleum refinery project in June and said it is also looking at potential refining deals in sub-Saharan Africa, including investing in a $2.5 billion oil refinery project in Uganda.
