Cairo – Mubasher: Egypt’s minister of investment and international cooperation Sahar Nasr on Sunday discussed with Saudi investors Abd El-Rahman El-Sharbatly and Fahd El-Shobokshy increasing their investments in Egypt through pumping $2.150 billion.
El Sharbatly Group plans to expand in the two projects of Golden Coast El Sokhna for Touristic Investment in Sharm El Sheikh in Nabq area, and in Soma Bay in Hurghada at a value of $1 billion, Hassan Al Sharbatly said.
The group will also implement the second line of production in South Valley Cement Co with a total investment value of $150 million, and new projects for Al Arabia Co for Real Estate Development (ARCO) at a value of $1 billion.
Egypt is easing all procedures for Saudi investors to expand in Egypt in line with the Saudi Egyptian Business Association’s (SEBA) decision to raise investments to $51 billion.
The Kingdom’s investments will be from the governmental and private sectors, through investing in Egypt’s agriculture and tourism sectors, investing in the Suez Canal Area Development project, and in other projects in the power and real estate development fields.
