German investors planning new petrochemical investments in Egypt: minister

A number of German investors will pump new investments into some Egyptian petrochemical and phosphate fertiliser production projects within the next period, Egypt’s Oil Minister Tarek el-Molla said Sunday.

El-Molla made these remarks during a meeting with Matthias Fischer, Head of German-Arab Chamber of Industry and Commerce and other officials in the chamber.

Egypt’s oil sector enjoys many investment opportunities in crude and petrochemical projects which need new capitals, el-Molla added.

The Egyptian minister further stressed that Germany’s investors are keen on producing high-quality Egyptian products in order to compete other global products.

In the meeting, the officials also discussed the available investment opportunities in Egypt to enhance the German businesses for oil industries.