Major Russian companies are eager to invest in various Egyptian economic sectors, most notably the energy and natural gas sectors, said Trade and Industry Minister Mounir Fakhry Abdel Nour.

The companies, currently partaking in the Saint Petersburg International Economic Forum (June 18-20), which Abdel Nour is also attending, have exhibited an interest in pumping direct investments in Egyptian economic sectors, the minister said.

Abdel Nour said he met during the conference with representatives from Rosatom nuclear energy company, where the company presented its vision for investments in Egypt, which involves a desalination station in North Sinai and a factory for the production of machinery used for that station. He pointed that the talks also tackled negotiations for the construction of Egypt’s first nuclear power station at Dabaa, northwest of Cairo.

Abdel Nour said he had also convened with representatives from Russian gas giant Gazprom, which is eyeing liquefied natural gas exports to Egypt based on medium-term contracts besides engaging in gas explorations. The company, according to Abdel Nour, has also proposed direct investments in the field of electricity generation plants.

Source: Egypt Independent