Arab Finance: Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, met with Amre Ercias, President of the Turkish Ercias Company for the production of oil pipelines and natural gas and water pipelines. The meeting reviewed the Turkish company’s plan to establish a factory to produce large-diameter oil, natural gas and water pipelines, with investments of $60 million.
The Minister stressed the Ministry’s keenness to provide all aspects of support to the Turkish company to establish and expand its project, and export to various global markets, noting that the Egyptian economy possesses many distinct investment components and potentials, which include the geographical location, the logistical transport infrastructure system, the qualified workforce, and the availability of renewable energy sources. And qualified ports, in addition to the network of free and preferential trade agreements signed between Egypt and a large number of countries and regional and global economic blocs.
For his part, Emre Ercias, director of the Turkish company, appreciated the measures taken by the Egyptian government to attract more foreign investments and companies, noting that the Egyptian market enjoys distinct investment opportunities and components.
Erciyas also added that the company Erciyas has great experience in the field of high-strength oil and gas pipeline projects in various countries of the world, noting that the company plans to establish a factory in Egypt to produce high-pressure oil, gas and water pipelines with diameters between 2-3. meters, with investments of 60 million dollars, as the project aims to achieve an investment return of about 200 million dollars, by exporting 60% of the production to foreign markets, and 40% to the Egyptian market.
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