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08. August 2013

QR / EG - Qatari investments USD 5.2 billion to set up steel 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 USD 5,200 billion investments, in north of Suez Gulf.

Mr Ahmed Abu-Hashima vice chairman of Egyptian-Qatari Business Council said that the project is to import 7 billion cubic meters of Qatari gas annually as well as setting up a mega power generating station with 1700 MW, a steel plant with 3 million tonne and silos for fodders such as wheat silos that absorb 5 million tonnes.

Source:  Opens external link in new windowAll Africa.com

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