Egypt

PepsiCo to invest $500 mln in Egypt this year

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SHARM EL SHEIKH, Egypt (Reuters) – PepsiCo will invest $500 million in Egypt this year to expand production, its business unit manager for North East Africa said on Saturday.Ahmed El Sheikh told Reuters at an investment conference in Sharm El-Sheikh that the investment comes after the global food and beverage company achieved sales of $1.2 billion in Egypt during 2014.Egypt hopes the weekend conference will project an image of stability and improve investor confidence hit…

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Egypt’s Qalaa sees opportunities in energy sector reform

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SHARM EL-SHEIKH, Egypt, March 13 (Reuters) – Qalaa Holdings, one of Egypt’s largest investment companies, said on Friday its investment strategy would focus on opportunities presented by reforms in the energy sector.Speaking at an investment conference in the Red Sea resort of Sharm El-Sheikh, Qalaa chairman Ahmed Heikal said he was highly encouraged by the government’s decision last year to cut fuel subsidies that had drained state coffers.”If you remove the source of the original…

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Kerry urges firms to invest in Egypt, praises economic reforms

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Kerry urges firms to invest in Egypt, praises economic reforms

SHARM EL-SHEIKH, Egypt (Reuters) – U.S. Secretary of State John Kerry on Friday urged business executives to invest in Egypt, praising the government of President Abdel Fattah el-Sisi for “bold” economic reforms aimed at restoring investor confidence.Addressing the U.S. Chamber of Commerce in Egypt on the sidelines of an investment conference in the Red Sea resort of Sharm El-Sheikh, Kerry said more private investment could help Egypt’s economy achieve annual growth rates in double digits.He…

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Chile’s ENAP to build $30 mln oil pipeline in Egypt

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SHARM EL SHEIKH, Egypt (Reuters) – A subsidiary of Chile’s state oil company ENAP will invest $30 million to build a 90 km oil pipeline in Egypt’s Western Desert, the country’s ambassador told Reuters at an international conference on Friday in the Red Sea resort of Sharm El Sheikh.Jose M. De la Cruz said the pipeline would allow the company to extract oil from a new discovery west of Cairo and sell it to the…

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GE delivers turbines to Egypt as part of $1.9 bln dea

Posted on by The Editorial Team
GE delivers turbines to Egypt as part of $1.9 bln dea

SHARM EL-SHEIKH, Egypt (Reuters) – General Electric Co has delivered a shipment of gas turbines to Egypt as part of a $1.9 billion deal to boost power capacity, and will invest $200 million in a planned economic zone near the Suez Canal, the firm said on Friday.The announcements were made at a conference where Egypt hopes to secure billions of dollars in investment after years of political turmoil, focusing on energy and the Suez Canal…

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Egypt eyes deals worth $15-$20 billion at investment summit

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Egypt eyes deals worth $15-$20 billion at investment summit

SHARM EL-SHEIKH (Reuters) – Egypt expects to sign agreements worth up to $20 billion at a weekend investment summit in the Red Sea resort of Sharm el-Sheikh, its investment minister said on Friday.Egypt wants the conference to project an image of stability and deepen investor confidence after four years of political and economic turmoil triggered by a 2011 uprising that toppled veteran ruler Hosni Mubarak.Cairo hopes the summit will allow it to double foreign investment…

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