Banking & Finance Gulf investor may buy stake in Egyptian fertiliser firm By Pramod Kumar July 26, 2023, 5:32 AM Unsplash.com The Semadco stake deal is part of Egypt's plan to restructure the economy by selling state-owned assets Egypt is planning to sell a stake in state-owned El-Nasr Fertilizers and Chemical Industries Company (Semadco) to a strategic investor from the GCC and foreign funds, a local media reported. The Holding Company for Chemical Industries, which owns Semadco, is currently determining the fair value of the share, which is expected to be completed within a month, Daily News Egypt news outlet reported citing informed sources. The move is to sell a share to provide dollar liquidity and increase private sector participation in the local economy. The North African nation recently launched the state ownership policy as part of a wider plan to restructure the economy. Egypt’s Prime Minister Mostafa Madbouly in May outlined a plan to sell an expanded raft of state assets to private investors to attract $40 billion in investment over the next four years. The government announced in February plans to sell stakes in 32 state-owned companies to garner $2.5 billion by the end of that fiscal year on June 31, 2023.