The Egyptian government has suspended the sale of a stake in the state-owned Aluminium Company of Egypt (EgyptAlum). Officials intend to quadruple the company’s market value before reconsidering a sale to strategic investors or the Sovereign Fund of Egypt (SFE). EgyptAlum currently maintains a market capitalization of approximately EGP 118 billion (USD 2.4 billion).
A strategic partnership with commodity trader Trafigura will drive growth by expanding the Naga Hammadi industrial complex. This project aims to double annual production capacity to 600,000 tonnes.
While the government has received acquisition interest from European and Gulf-based firms, it will prioritize asset value maximization. This delay aligns with a broader national strategy to optimize state-owned assets before privatization.