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minister: Cypriot investment in Egypt hit $ 300 million

Tuesday 21/November/2017 - 08:40 PM
Sada El Balad
Mohamed Emad
Minister of Trade and Industry، Tarik Kabil stressed that the talks with Greek and Cypriot dealt with how to make Egypt an energy center.

He pointed out that the state is investing heavily in natural gas infrastructure projects.

In a press statement، Kabil said that the talks touched on ways of linking the three countries to make Egypt a link between Europe and Africa.

Kabil added that Egypt is also working on the electric grid connection with Saudi Arabia، which helps to export surplus or import power deficit. 

He pointed out that Cyprus is a small market، but its companies and investors have investments in many countries، including Egypt.

Kabil explained that the direct Cypriot investments in Egypt reach 300 million dollars، especially as Cypriot investors are looking for foreign markets to invest in that period.

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