Arab Today, arab today egypt could receive up to 400m of indian investment
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Egypt could receive up to $400m of Indian investment

Arab Today, arab today

Arab Today, arab today Egypt could receive up to $400m of Indian investment

New Delhi - Arabstoday

Indian companies signalled their willingness to invest up to $400 million towards projects in power-generation, plastic, and real estate in Egypt, according to a statement released by the Egyptian Ministry of Investment on Wednesday. Investment Minister Osama Saleh met with representatives from a number of economic institutions and Indian companies on Wednesday while accompanying the Egyptian president on his visit to India. There are currently 352 Indian companies operating in Egypt, in the fields of petrochemicals, oil and gas, textiles and telecommunications. The Egyptian government is determined to attract even more firms, according to the press statement. Saleh added that it is of utmost importance to activate the current standing agreements between Egypt and India, such as the memorandum of understanding (MoU) that was signed between the Egyptian Investment Authority (EIA) and the Indian investment union in 2007. The Egyptian minister met with representatives of the Indian chemicals multinational the Sanmar Group, which currently holds investments in Egypt worth $1.3 billion in the canal cities of Port Said and Suez, and employs over 1,500 Egyptian workers. Sanmar Group representatives said they were planning to pump further investments in Egypt worth $300 million and build a plastic manufacturing company in the city of Port Said. Saleh assured the Indian chemicals giant that the disturbances in Port Said were temporary and would not put in danger the group\'s investments in the city, asserting that the government is dedicated to create employment opportunities for the youth of Port Said. The city of Port Said has recently been hit by a wave of violence triggered by a court ruling sentencing 21 of its citizens to death on charges related to the Port Said stadium riot in February 2012. The Egyptian-Indian Polyester Company has vowed to expand its production lines in Egypt with investments worth $100 million, according to the press statement released by the Egyptian ministry of investment. The company currently operates a polyester production plant in the city of Ain Sokhna. President Mohamed Morsi is currently on a visit to India accompanied by representatives of the ministry of investment and a group of Egyptian businessmen to boost trade ties with the country. Albawaba

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt could receive up to 400m of indian investment Arab Today, arab today egypt could receive up to 400m of indian investment

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt could receive up to 400m of indian investment Arab Today, arab today egypt could receive up to 400m of indian investment

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday