Romania’s Transgaz considers building new plant in Egypt

TransgazThe Egyptian Minister of Investment and International Cooperation, Sahar Nasr said that she has discussed with executives from Romania’s Transgaz establishing a factory in Egypt.

The meeting was held on the sidelines of the minister’s visit to Romania, where Nasr stressed to Romanian investors and officials that Egypt took legislative procedures to provide an adequate attractive investment climate and mobilized efforts to launch several mega national projects.

Egypt-Romania

Egypt & Romania signed four Memorandums of Understanding (MoU) during the visit

The minister also referred to the Egyptian political leadership’s keenness on establishing powerful and effective relations with the Romanian side.

This is in addition to considering the possibility of setting up Romanian projects within the scope of the Suez Canal Development project as well as other fields in which Romania has comparative advantages such as transportation and energy.

Nasr has also expressed her aspirations to increase Romanian investments in Egypt to reach the desired level, given that the volume of such investments increased to approximately $88.32 million in 60 companies distributed to several fields, topped by tourism, industry, services, information technology, construction and agriculture.

According to the minister, Egyptian investments in Romania reached up to $100 million, which reflects Egypt’s increasing investment presence in Romania.

(Source: Mubasher Info)

Transgaz is a state-owned company, which is the technical operator of the national natural gas transmission system in Romania. The company handled in 2006 a quantity of 15.85 billion m³ of natural gas. The company has a total transport capacity of 30 billion m³ of natural gas and a pipe network of 13,000 km. (Wikipedia)

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