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FINANCIAL NEWS
100 global firms to invest USD15bn in Egypt
21 Dec 2016
(MENAFN) Egypt’s President has called renewable energy investors in order to allow them to complete their projects in the country, like the Siemens windmill and the feed-in tariff projects.
Accordingly, more than 100 global companies are ready to invest almost USD15bn, but are hesitated due to the country’s lack of vision and obstacles that slowed the procedure.
Moreover, the government should help new and renewable energy project to spread sources of elect production, while it aims to maximize the portion to over 37pct by 2035.
However, the procedures of installing the renewable energy projects in the country are very slow, which will drive the firms away.
M
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