Egypt Plans to Attract $20 billion in Arab and Foreign Investments

Published May 11th, 2000 - 02:00 GMT

Egyptian Oil Minister Sameh Fahmi said Wednesday that the petroleum sector is currently studying a new plan to attract Arab and foreign investments of $20 billion to establish major petroleum projects during the coming 10-15 years, ArabicNews.com reported Wednesday. 

Fahmi added that during his upcoming visit to Saudi Arabia and Kuwait, he would discuss administrative steps for petrochemical project investments worth $1 billion in the Suez Gulf area. 

ArabicNews.com added that the Egyptian officials would also discuss steps for establishing a project for producing a joint Egyptian- Kuwaiti pipeline to transport petroleum products and natural gas to provide the needs of the Egyptian markets - Albawaba.com 

 

© 2000 Al Bawaba (www.albawaba.com)

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