20 January 2013

Egypt: U.S. $ 5.2 Billion Qatari Investments to Set Up Steel, Cement Plants in Egypt

Egyptian and Qatari businessmen agreed in the meeting held Saturday in Doha, the United Arab Emirates to consider a number of investment and industrial projects contracts within the coming stage including a mega venture on manufacturing and vaporizing Qatari gas in Egypt with $5,200 billion investments, in north of Suez Gulf.

Vice-chairman of Egyptian-Qatari Business Council, Ahmed Abu-Hashima, said the project is to import seven billion cubic meters of Qatari gas annually as well as setting up a mega power generating station with 1700 megawatt, a steel plant with three million tons and silos for fodders such as wheat silos that absorb five million tons.

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