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FINANCIAL NEWS
Egypt secures USD36.2b investment agreements
17 Mar 2015
(MENAFN) Egypt agreed USD36.2 billion in investment deals, according to the country’s prime minister after a three day economic conference, Saudi Gazette reported.
Three Arab states are ready to participate with a USD12 billion investments and aid, endorsing Egypt’s current president in his fight against Islamist militants as the country is still steeped on political turmoil.
Other deals included a USD18.6 billion in financed projects such as for a power plant, a won USD5.2 billion in loans from international institutions, and a record investment by British Petroleum and its Russian partner DEA of USD12 billion in Egyptian gas fields.
In addition, German conglomerate Siemens signed a four-billion-euro power deal with Egypt. Egypt also signed MoU with UAE Company for the construction of a new administrative capital.
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