In exclusive statements made to Youm 7, former Minister of Petroleum Osama Kamal said that the ideal way to deal with foreign companies that want to invest in Egypt is to prepare banking feasibility studies in advance.

Leading Gulf-based energy firms Masdar and Acwa Power has signed Memorandums of Understanding (MoU) with the Egyptian Electricity Holding Company to develop up to 4 Gigawatts of renewable and natural gas power generation projects in Egypt.

Dana Gas will invest $350 million (Dh1.28 billion) in Egypt over the next 30 months and expects to receive outstanding arrears from the government by the end of 2016, the company’s chief executive said on Saturday.