Abdel Nour Calls Russian Firms to Invest in Egypt’s Energy Fields Next Period

Mounir Fakhri Abdel Nour Industry, Foreign Trade and Investment Minister said the Egyptian government has a strong desire to make the best use of the expertise in the Russian energy through alluring  Russian firms in these projects during the coming period .

This came within Abdel Nour’s meeting with Alexander Novak. Minister of Energy of the Russian Federation, to discuss the importance of developing the joint Egyptian-Russian cooperation in the fields of energy, whether conventional energy or new and renewable energy.

The minister pointed out, that the meeting also dealt with Egypt’s desire to expand the scope of ties with the Russian side in the energy field to include new and renewable energy in order to take advantage of the natural resources of Egypt .

The government will provide all facilities to allure foreign companies operating in the field to generate electricity from the sun and wind, as well as for the production of solar panels, especially since Egypt has a rare ores of the sand used in manufacturing of these panels, Abdel Nour added.

Egypt has great opportunities in the petrochemical sector, calling the Russian energy minister to visit Egypt at the head of Russian company’s delegation operating in oil, petrochemicals and energy fields to get to know the allowed opportunities and possibilities.

Alexander illustrated that Russia and Egypt have close ties in energy field and there is cooperation, whether through the Russian Energy Ministry and their Egyptian counterparts or through Russian companies invested in Egypt in the same field.

He said that the Ministry of Energy will support and encourage the participation of Russian firms in the Egyptian governmental tenders , particularly the Russian companies have considerable experience in dealing in the Egyptian market .

Alexander further called Egyptian Investment, Electricity and Petroleum Ministers to participate in the 14th International Energy Forum (IEF) which will take place on 15-16 May in Moscow and 21st World Petroleum Congress that will be on 15-19 June in Moscow.