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Country-Plan Projects and Tenders |
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8695 Subject |
840 مليون دولار استثمارات سعودية في مصر في مجال الكيماويات والحديد والصلب $ 840 million fresh Saudi investments in Egypt in the pipeline. |
| Date Published | Monday, June 13, 2005 |
| Source Name | Al Hayat |
| Location Name | Country Wide |
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Description Date Format: (mm/dd/yyyy) |
Media reports have revealed that recent meetings held in Cairo between Prime Minister Dr. Ahmed Nazif and Prince Soud Abdallah Ibn Thonayan Al Soud, Chairman of the Saudi Royal Agency of Al Jubail and Yanbuu, also Chairman of giant Sabic, reviewed several highly valued Saudi projects to be implemented in Egypt over the next stage. They include a $ 700 million project to produce urea and ammonia, to be implemented by Sabic [possibly at the Suez Gulf Zone] and $ 140 million iron & steel complex project to be developed by Somouh – Egyptian Saudi Mining Company. N.B. Day earlier the daily Asharq Al Awsat of 6/12/2005 has quoted Egypt Minister of Petroleum & Mineral Wealth announcing that studies are now ongoing to establish a new holding company for petroleum refining to host some $ 4 billion investments. Ministry Under Secretary, Mr. Shamil Hamdy, said studies are for completion by the end of July 2005 with works scheduled to start early 2006. |
| Sectors Section |
Beneficiary Sectors - Petroleum - Oil, Gas & Petrochemicals Petrochemicals - Industry Steel Petrochemicals |
