Qatar to pump 18 bln USD investment in Egypt

Qatar to pump 18 bln USD investment in Egypt
# 06 September 2012 20:52 (UTC +04:00)
Baku-APA. Qatar will pump 18 billion U.S. dollars for investment in Egypt within five years, Qatari Prime Minister Sheikh Hamad bin Jassim al-Thani said in Egypt’s capital Cairo after meeting with Egyptian President Mohamed Morsi on Thursday, APA reports quoting Xinhua.

Al-Thani said at a press conference that "Qatar will carry out huge projects in Port Said governorate which includes power plants to generate electricity and factories in different fields with 8 billion U.S. dollars," according to official news agency MENA.

Doha will invest 10 billion dollars to mega tourist project in northern coast, including establishments of residential projects in Sharm el-Shiekh and Cairo, he added.

During their meeting, Morsi and the Qatari prime minister discussed means to boost mutual relations between the two countries, topped by widening economic cooperation and increasing Qatari investments in Egyptian markets.

The visiting PM also met with Egyptian Prime Minister Hisham Qandil on Thursday. They discussed ways of boosting cooperation and Egypt’s role in preserving security in the Gulf region.
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