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FINANCIAL NEWS
Turkey plans to invest heavily in Egypt’s industries this year
26 Feb 2013
(MENAFN) Turkey plans to pour as much as USD1 billion in Egypt economic sectors through Turkish companies this year, Daily News Egypt reported.
The paper quoted Zaki Akenji, the Head of the Turkish-Egyptian Businessmen’s Association (TUMIAD), as saying that Turkish firms will invest mainly in the steel, energy, cement, chemicals, tourism and infrastructure industries.
“Egypt will witness big investments in the coming period,” said Akenji to the Turkey-based Anadolu News Agency.
“The big Turkish companies have almost finished the feasibility studies for the new projects,” he added.
In December, Turkey had offered Egypt a USD1 billion deposit in its Central Bank to shore up dollar supplies, along with a credit line of the same amount to finance developmental projects in the country.
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