Russian Metprom Plans to Expand Investments in EgyptSource: www.export-egypt.com 11/21/2018, Location: Africa |
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Minister of Trade and Industry Amr Nassar had talks in Moscow with the chairman of the Russian Metprom group which is operating in the sector of metallurgical industries. The two sides discussed current and future projects of the company in Egypt.
Attending the meeting were Egyptian Ambassador to Russia Ihab Nasr and head of the Egyptian trade representation office in Moscow Nasser Hamed, a statement issued by the Trade and Industry Ministry. It quoted Nassar as saying that the group expressed willingness to establish a project in Egypt in the domain of reinforced iron bars at a total capacity of 150,000 tons annually and investment cost of around 60 million euros and another project for rehabilitating the iron and steel factory in Helwan. For his part, the group's CEO asserted keenness on expanding in the Egyptian market under the current favorable investment climate it is enjoying and in light of the available investment opportunities across Egypt, especially in the Suez Canal zone, added the statement. Nassar, who concluded his current visit to Russia today, signed a document on the framework of talks on setting up a free trade zone between Egypt and the Eurasia member states. |
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