German, English Companies Negotiate To Invest $10 bln in Egypt’s Energy

Hassan Rateb, chairman of the board of Sinai Investors Association, said that a number of whopping German and English companies, besides other nationalities offer $ 10 billion investments in Egypt in the field of energy; especially the electric generation.

Rateb has referred that these investments aim at utilizing the Qattara Depression and some resources that able to generate electricity in Egypt to produce “10 Mega” of electricity annually. This could resolve the exaggerated crisis of cutting off power in Egypt.

As to the requirements of supporting investments, Hassen Rateb told “Amwal Al Ghad” that the security states in Egypt is not stable, so the government should exert more efforts to restore security in Egypt in order to resume negotiations with the companies, which had announced before they seek injecting million of dollars in Egypt within the coming period.