Kuwait to invest $4bn in Egypt
Sharm El-Sheikh
Cairo - MENA
Kuwait will invest a sum of $4 billion in the Egyptian market during the coming period, said President of the Egypt-Kuwait Economic Cooperation Council Moataz Al-Alfi.
During the council's founding meeting, Al-Alfi said that a $1.5 billion steel factory will be established in Suez.
Also, a real estate company will be established in Sharm El Sheikh, the Egyptian official said.
He noted that Kuwait is planned to establish a one-billion-dollar logistics area in the Suez Canal region.
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