Tunis Allows Private Sector to Invest in Renewable Energy

A finished wind turbine complex is shown in southern Wyoming, US on July 21, 2009. REUTERS/Ed Stoddard/File Photo
A finished wind turbine complex is shown in southern Wyoming, US on July 21, 2009. REUTERS/Ed Stoddard/File Photo
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Tunis Allows Private Sector to Invest in Renewable Energy

A finished wind turbine complex is shown in southern Wyoming, US on July 21, 2009. REUTERS/Ed Stoddard/File Photo
A finished wind turbine complex is shown in southern Wyoming, US on July 21, 2009. REUTERS/Ed Stoddard/File Photo

Tunisian authorities have given for the first time a role to the private sector in wind energy production.

The Ministry of Industry and Small and Medium-sized Enterprises granted licenses to four foreign companies producing electricity from wind with a 120 Megawatt generating capacity and an overall investment of 400 million Tunisian dinars.

ABO WIND AG (Germany), UPC Tunisia Renewables (Netherlands) and French LUCIA HOLDING and VSB Energies Nouvelles got their projects approved in principle.

Prime Minister Youssef Chahed said during a ceremony held on the occasion that giving a boost to renewables (solar and wind energy) is a priority for the government.

“The government made considerable efforts in order to develop the legal and organisational aspects of the sector,” he added.

The firms will sell wind power to the Tunisian Company of Electricity and Gas (STEG) at prices ranging between 110 millimes and 135 millimes per kilowatt hour.

Tunisia’s energy deficit represents one third of the overall trade deficit, which has widened to a record level of about 19 billion dinars ($6.33 billion) in 2018 from 15.6 billion in 2017.



Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)
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Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)

The Saudi-Egyptian Industrial Forum kicked off in Riyadh on Monday under the patronage of Minister of Industry and Mineral Resources Bandar Alkhorayef. The forum aims to bolster strategic industrial cooperation and integration between the two countries.

Organized by the Federation of Saudi Chambers of Commerce in collaboration with the Federation of Egyptian Industries, the forum witnessed the participation of Deputy Minister for Industrial Affairs Eng. Khalil bin Salamah, Saudi Export Development Authority CEO Abdulrahman Althukair, and 300 prominent Saudi and Egyptian industry leaders and investors.

Bin Salamah underscored the significance of strengthening economic cooperation and industrial integration between Saudi Arabia and Egypt. He advocated for enhanced industrial partnerships within five priority sectors identified in the Kingdom's National Industrial Strategy: pharmaceuticals, automotive, building materials, textiles, and food industries.

He highlighted the evolving strategic integration between the two countries across initiatives like "Saudi Made,Future Factories," and "Made in Egypt," as well as in the broader goods and services sector. Bin Salamah urged Egyptian industrialists to capitalize on the industrial investment opportunities available in the Kingdom, citing its ambitious plans to establish 24,000 new factories over the next decade.

Federation of Saudi Chambers of Commerce Chairman Hassan Alhwaizy hailed the forum as a crucial milestone in Saudi-Egyptian industrial collaboration, emphasizing the strategic partnership underpinning their economic relations, particularly in the industrial sector.

Federation of Egyptian Industries Chairman Mohamed El-Sewedy stated that current global challenges are accelerating the need for industrial integration between the two countries, strengthening their partnership to tap into the African market's potential.

Saudi-Egyptian Business Council Chairman Bandar Al-Ameri highlighted the substantial growth in trade exchange between Saudi Arabia and Egypt in recent years, fueled by developing economic partnerships between their respective business communities. He emphasized that signing the agreement to protect and encourage mutual investments represents a strategic achievement serving their shared interests.