Egypt: Minister - 162 Companies to Re-Operate With EGP 5 Billion Capital

Minister of Industry and Foreign Trade, Dr. Mahmoud Issa, said that 18 banks have confirmed their willingness to finance and reschedule debts of floundering companies due to lack of financial liquidity.

Plants that submitted reports detailing their problems reached 168 whose aggregate investments hit around EGP 5 billion, he said.

He further said that the Sinai development draft law is expected to be issued within the coming few days allowing the Egyptians to own lands in Sinai for the first time.