Egypt secures USD36.2b investment agreements| MENAFN.COM

Sunday, 29 January 2023 06:28 GMT

Egypt secures USD36.2b investment agreements

(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.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.