Saudi ElSharbatly Group intends to invest $ 2.5B in Egypt within 5 years

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Mon, 15 Mar 2021 - 12:22 GMT

U.S dollars – Flickr

U.S dollars – Flickr

CAIRO – 15 March 2021: Saudi Elsharbatly Group aims to pump $ 2.5 billion into the Egyptian market over the next five years, Saudi businessman Hassan ElSharbatly said.

 

He explained, during a meeting held by Egyptian Prime Minister Mostafa Madbouli with Saudi investors, Sunday, that about $ 2 billion had been invested during the last 15 years of the company's work in Egypt, according to the government statement.

 

He stressed that the year in which the world suffered from the Corona pandemic, the group succeeded in signing contracts for a number of projects, including one worth $ 500 million, and is preparing to sign another contract worth $ 150 million, unlike many other projects that are being implemented.

 

During the meeting, Saudi investors presented a report on the current position of private investments by the Saudi Sharbatly Group in Egypt, as well as future plans to increase these investments during the coming period in light of its great experience in working in the Egyptian market.

 

The Egyptian Prime Minister affirmed that the government welcomes all investors wishing to expand investment in the Egyptian market, and continues work to overcome all obstacles and create an environment that attracts more foreign investments in various sectors, in a way that serves the national economy and provides job opportunities.

 

Madbouli indicated that Egypt has many promising opportunities that can be optimally utilized.

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