Egyptian and Moroccan businessmen have agreed to establish seven joint projects by a total investment of $105 million. The projects cover fishing, tourism, production of PVC to be used in the petrochemical industries and production of sport and medical equipments, reported the July 17 edition of Al-Sharq al-Awsat newspaper.
The signing of the agreements regarding these projects is expected to take place in Cairo on the sidelines of the upcoming meeting of the Egyptian-Moroccan Business Council on a ministerial level. This meeting is slated for November 2005, according to Ibrahim Abu Umaira, the head of the Egyptian side in the joint business council.
Umaira added that the PVC plant is expected to cost $50 million, and to be established on a 3,000 square meter area in the city of the Tenth of Ramadan in Egypt. The project for production of sport equipment is estimated to cost $13 million, while the medical equipment project is expected to cost $19 million.
As for the costs of the fishing and tourism projects, they are still under negotiations between the two sides. The expected cost of a project for production of chemicals, to be established in Al-Abur on 8000 meters area, is $10 million.
