Qabil: US company studying to increase investments in Egypt

A US company that manufactures soda cans is studying to pump new investments worth 60 million dollars into Egypt, Trade Minister Tareq Qabil said Monday.

Paul's Beverage Company is thinking of establishing a third production line in Egypt.

Emerging from a meeting with a delegation of the company, Qabil said talks took up Paul's projects in Egypt and future expansions in the Arab country.

Qabil said his Ministry is exerting utmost effort to encourage productive projects through improving the business climate and solving problems facing investors.

He stressed the importance of increasing the percentage of local components in Paul's products to reach 15 percent, noting this could be done through cooperation with Egypt Aluminum (EGAL) to supply materials of production lines.