CENTRAL NEW EGY (01735) Signs MOU with EGN to Develop Solar Power Stations and Component Manufacturing Capacity in Oman

Stock News

Aug 25, 2025

CENTRAL NEW EGY (01735) announced that on August 25, 2025, EGN LTD (EGN) and the company entered into a memorandum of understanding. Under the memorandum, the contracting parties intend to invest in solar power station projects in Oman and establish local solar module manufacturing capacity. The cooperation will be based on the principles of equality, mutual benefit, industrial synergy, and coordinated development, committed to establishing a long-term stable strategic partnership to achieve common growth and shared success.

The announcement stated that the cooperation under the memorandum will help the group expand its green energy strategy and leverage its experience and capabilities in solar power station project development and operation. The board also believes that the proposed cooperation will expand the group's business opportunities, broaden its revenue sources, and enhance its financial performance. Therefore, the board considers that the proposed cooperation with EGN is beneficial to the group's future development and is in the overall interests of the company and its shareholders.

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