Energy is the main sector for development, and accounts for efforts being made to bridge the gap between rates of production and consumption, according to Minister of Petroleum Sherif Ismail.
On behalf of the Minister of Petroleum, the First Undersecretary for Gas Affairs at Egypt’s Petroleum Ministry, Sherif Sousa, said Egypt plans to propose projects amounting to $10bn, along with other investments at $9bn. The plan also includes petrochemical projects with investments worth $6.2bn.
Sousa mentioned that some mining projects are now under construction, and that they work on creating the suitable atmosphere to attract more investments in the energy sector through a complete plan. The aim is to consume energy economically to save 15% within the next three years.
Egypt has many investment opportunities which will be offered through global tenders, reaffirming the need to keep up to face obstacles in energy section.