Iran to Invest $ 1.5 Bn in Egypt

Prime Minister Kamal al-Ganzouri approved on 21/2/2012 that Iran Garment Holding Company would establish two plants for producing small cars and manufacturing and filling gas cylinders with $1.5 billion investments. The two projects will be set up in Beni Sueif and Menya industrial zones to provide 3000 job opportunities.

The gas cylinders plant will manufacture and fill 10 million cylinders annually, while the car plant will produce a small car with a price ranging between 5000 and 10,000 dollars. The executive measures for establishing the projects will be agreed on during the visit of the Iranian investors delegation to Egypt next week.