Joint Egyptian – Kuwaiti pipe manufacturing project to be developed
The Egyptian petroleum ministry recently announced that a joint Egyptian-Kuwaiti project is currently being evaluated. This project, reported in Al-Sharq Al-Awsat, is a petroleum and natural gas pipeline manufacturing company, aimed at satisfying Egypt’s local market needs.
The length of the local pipeline network is estimated at 7,000 kilometers, and is in need of renovation and maintenance on an annual basis.
In addition, the local petroleum ministry has adopted a plan, which sets out to bring in $20 billion in Arab and foreign investments into Egypt in the upcoming 10-15 years. This investment is needed for the purpose of establishing several large-scale petroleum projects. –(Albawaba-MEBG)