Egypt Kuwait Holding Co., which operates mainly in direct investment, said the energy sector is playing a key role in its growth plan, as it intends to spend nearly $500 million in fresh investments during 2015, thus raising the value of its investment portfolio to $2.5 billion, according to a company official.
During Reuters Middle East Investment Summit, investor relations manager Haytham Abdel Monem, said the new investments will focus on expansion in acquiring stakes in crude firms in Egypt, in addition to boosting production in the company’s Sebria plant and expand the supply of natural gas to homes and for commercial purposes.
EK holding as nearly 20 affiliates operating in gas, oil, insurance, fertilizers, telecommunication, construction, financial investments, etc.
The official said his company is targeting return on equity reaching 20% over dollar during the coming two years, noting that the company will resume the distribution of dividends to shareholders.
The company is focusing its investments in fertilizers, petrochemicals and energy sectors that make up nearly 95% of its earnings and revenues.