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British Gas to Invest US$5 Billion in Egypt

Source: Egypt Independent 9/11/2012, Location: Africa

Petroleum Minister Osama Kamal on Tuesday said British Gas is injecting US$3 billion to US$5 billion into development projects in Egypt, in addition to its current investments that amount to US$10 billion.

This came after a meeting between Prime Minister Hesham Qandil and a delegation from the British company, which included the company's chief executive in England Andrew Gould, CEO of the company in Egypt Sami Alexander, and the Minister of Petroleum.

The company has been operating in Egypt for 23 years, pumping more than a third of Egypt's gas. It also launches social development projects, such as public parks, schools and medical centers.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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