(Ecofin Agency) - Qalaa Holdings, an Egyptian private equity fund that funds energy and infrastructures projects, announces that it will invest EGP30 billion ($1.7 billion) in the next three years in Egypt.

Ahmed Heikal, president of the investment firm, informs that these funds will mainly be invested in companies operating in the oil and energy sectors. For Qalaa Holdings management, this decision is motivated by investors’ confidence and optimism in the Egyptian economy.  

"Investors are optimistic about economic reforms initiated in Egypt. These reforms have truly been followed by a price increase but, we think that this period will be followed by a respite and that the economy will be better in the coming years”, Ahmed Heikal (photo) said.

During the publication of the company’s Q2, 2018 result, the firm’s management listed some major projects which are to be funded between 2019 and 2021. The equity firm indicated that it would invest EGP8 billion in Taqa Arabia, an energy distribution company in Egypt.

Chamberline Moko