Middle East

Egypt earmarks billions to develop petrochemicals sector

Cairo: Egypt plans to invest $14.5bn in developing its refining and petrochemicals sectors over the next five years, its oil minister said.

It is also considering floating stakes in some state-owned oil companies on the Egyptian stock exchange.

Most of the planned investments will be implemented by state-owned companies and be self-financed or part-financed by local banks.  [29/09/14]

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