Kuwaiti Kharafi group invests $1.3 billion in Egypt
The Kuwaiti Khorafi Group recently announced plans to increase its investments in the Egyptian market to $1.3 billion, over the next five to eight years. Presently, the group’s investments in Egypt stand at $700 million.
According to the London-based Al-Sharq Al-Awsat daily, Khorafi is expected to focus its investment plans on Egypt’s infrastructure and tourism sectors. The group already owns a number of food and tourist enterprises in the Marsa Alam region.
A financial consultant of the Khorafi Group has stated that the company made the decision to expand its interests in Egypt, mainly due to the country’s increasingly favorable investment climate. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)
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