U.S. Blumberg planning $250 million investments in Egypt
US-based Blumberg Capital Partners is planning to pump investments up to US$250 million into Egyptian market in the coming period, its founder and CEO Philip Blumberg announced Sunday.
Blumberg told Amwal Al Ghad that is company intends to establish a giant project for agricultural equipment and machinery manufacturing in East Port Said region.
The US official further said that he had met with Ahmed Darwish – Head of Suez Canal Economic Zone Authority – to discuss actual steps to carry out Blumberg’s planned project in East Port Said.
Moreover, Blumberg said his company is considering participation in Egypt’s planned global logistics centre for the handling and storage of grain and food commodities, which will be built on a space of 3.350 million m2, of which 500.000 m fall within the boundaries of Damietta Port.
