President Abdel Fattah al-Sisi said the next three years will see a boom in the production of electricity, with 13,200 additional megawatts, half as much as the current production, adding that the boom will expand economic investments.
The news was announced during a meeting with the Kuwaiti-Egyptian Relations Council on Monday.
Sisi also said that the government is about to complete the bylaws of the investment and mineral resources laws in order to provide a favorable climate that attracts more Arab and foreign direct investments.
The council presented investment projects that are being studied, including a steel factory with an annual 2-million-ton capacity at a cost of US$1.5 billion and a center for sea and land freight logistics which will cost $1 billion.
Edited translation from Al-Masry Al-Youm