Egypt’s PM reviews deals signed during Sharm al Sheikh economic conference
Prime Minister Sherif Ismail
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CAIRO: Prime Minister Sherif Ismail on Friday received a follow up report about progress in the implementation of agreements signed during the Egypt Economic Development Conference held in Sharm al Sheikh last year, Youm7 reported.

According to the report, a total of four oil agreements worth $21 billion were signed to explore oil in Port Said and Sinai regions.

Also in the field of energy; a total of four deals worth $9.46-billion, were launched to establish three power plants in Beni Suef, Burollus and the new administrative capital.

“The government exerts utmost efforts to achieve the planned economic growth, reduce unemployment rate, and eliminate bureaucracy and corruption, provide the appropriate atmosphere to attract investments and increase investment rates,” said Ismail during a Friday meeting with members of the Egyptian House of Representatives.

The report also included six agreements in the fields of housing, planning, investment and tourism.

An agreement, worth $4 billion, was signed between British Gas (BG) Company and the Egyptian General Petroleum Corporation (EGPC) to increase production and explore gas in Egypt’s Delta.

The Egyptian General Petroleum Corporation (EGPC) and the Egyptian Gas Holding Company (EGAS) signed an agreement, worth 4 billion dollars, with British Gas (BG) Company meant to increase production and explore gas in the Delta.

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