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Monday, 7 August 2017

Gov’t begins promoting investments for the West Egypt Development Project

Gov’t begins promoting investments for the West Egypt Development Project: A USD 2.5 bn amusement park complex is apparently among the projects up for grabs by investors in Matrouh governorate, Investment Minister Sahar Nasr said. The projects will be part of the West Egypt Development Project, which will include an investment zone, a resort complex in addition to urban development projects, said Nasr in a tour of Matrouh over the weekend. Nasr sat down with Porto Group Chairman Mansour Amer and Emaar Properties CEO Mohamed El Dahan to discuss potential investments in the resort complex, according to Daily News Egypt. The West Egypt Development Project comes as part of a strategy called for by President Abdel Fattah El Sisi last month to develop the Western Desert regions of Egypt.

Nasr also announced that a USD 60 mn agreement will be signed this year with the International Fund for Agricultural Development to finance a rainwater collection in Marsa Matrouh for agricultural use.

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