Egypt starts carrying out 6 agreements worth $30bn – Minister

Egypt has started bringing into effect six agreements worth US$30.215 billion in sectors of petroleum, electricity, and transport, said the newly-reappointed investment minister Ashraf Salman on Monday.

The six agreements were signed during Egypt Economic Development Conference (EEDC) that had been held in Sharm el-Sheikh on March 13-15.

During his meeting with Prime Minister Sherif Ismail, the minister also said Egypt has also signed final agreements of five Memorandums of Understanding (MoUs) totalling US$10.526 billion in real estate, investment, and planning sectors.

Moreover, Salman added that the country has drafted final contracts for 22 agreements and MoUs, which were signed during the EEDC conference.