Italy has agreed to upgrade Egypt’s Middle East Oil Refinery (MIDOR), participate in building a complex for petrochemical industries in Ain Sokhna, and update a number of combined-cycle power plants, Egypt Daily News reported.

Italian Minister of Economy Federica Guidi previously said Egypt is keen on attracting Italian investments.

Guidi, who is in Egypt heading a delegation of Italian companies to discuss investments, made the statements during a meeting with the Egyptian Minister of Industry, Tarek Qabil.

Qabil expected a leap in Egyptian-Italian economic relations, predicting the participation of Italian companies in large-scale projects, such as the Suez Canal Area Development project, the Golden Triangle, Al-Robeky City for leather industries, and the furniture city in Damietta.