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Egyptian-Malaysian Oil Plant Worth $100 Million

Source: SIS.gov.eg 12/11/2012, Location: Egypt

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The Investment Ministry and the Malaysian Patroness Oil Company agreed that latter pump new investments into the Egyptian market including establishing a massive plant for producing and packaging oil and lubricants with $100 million investments, said Investments Minister Osama Saleh.

The minister, in a meeting with Patroness delegation, discussed means of boosting joint cooperation and measures needed to increase Patrons investment in Egypt, adding the company seeks to export its products to the Egyptian market, African and Middle East countries.

Saleh pointed out that Patroness is keen on pumping more investments and supporting the Egyptian economy in this critical transitional period, adding the Egyptian government is also keen on activating and supporting investment, and provide more facilities for investors in the fields of development, production and exportation projects.

He stressed the importance of bilateral investment relations, adding Egypt seeks creation of strategic coalitions and partnership between Egypt, Malaysia and Southeast Asian countries.

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