$100 mln Canadian Investments In Egyptian Market

Fayez Ezz El Din, Head of Candian Chamber of Commerce in Egypt (CanCham), stated that 3 Canadian investment ventures will start working in 2013. These three ventures are “Zgand” for gold purification, “Trans globe” specialized in petrochemical industries in Eastern Desert- at $ 100 million capital, and a company for mining extraction.

The Canadian side has many attempts to attract the technology of gold purification to the Egyptian market, in order to easily transfer the raw gold to Canada to be purified, said Fayez Ezz El Din. He referred that there are negotiations with some companies work in the gold purification in the Egyptian market over Egyptian Canadian partnership.

He elucidated that what has happened with the Australian company of Centamin, which has the franchise of extracting gold from Al Sukkari mine,  will not affect the decisions of the Canadian companies seek working in the Egyptian market.