Al-Sharif Group Holding (ASG) signs an agreement with the Executive Authority in Gabon to develop the energy infrastructure of the African country, Invest-Gate reports.
The infrastructure development project will take place through ASG’s office in Egypt, the center of the companies’ international business, spread across more than nine countries in each of the continents of Asia, Africa, and Europe.
The group targets to increase its business volume in Egypt in the sectors of energy, water infrastructure, manufacturing, high technology and tourism and hospitality.
ASG contracts SEEG Gabon to lay the foundation for the long-term cooperation with a focus on ensuring electricity in Moanda city.
The agreement provides energy supply to the Moanda-Bakoumba lines on the border between Gabon and the Democratic Republic of Congo (DRC), as well as the Moanda-Mounana-Lastourville-Koulamoutou lines.
ASG’s CEO and Board Member Nawaf Bin Faiez Alsharif says that the arrangement to develop Moanda’s power plant in Gabon is an extension of the group’s strategy to expand regionally.
Alsharif highlights the project strengthens the group’s presence in Africa, in line with development plans and projects in the region.
He notes that the group intends to increase business volume in Egypt in various fields, including energy and water infrastructure, manufacturing, and high-tech fields, in addition to tourism and hospitality sectors.