28/3/2015, Al Masry Al Yom
For all the swashbuckling and scheming of terrorists, it was only natural for our citizens to be vigilant as they watched this historic economic conference unfold in Sharm el Sheikh. From the bottom of their hearts, Egyptians wish for the will of this country to prevail, with our army and police forces providing every security precaution for this great achievement to go unimpeded.
The attendance from the whole world was astounding; our Arab brethren came, driven by their chivalry and wisdom to support and stand by Egypt with great gallantry. In the lead were Saudi Arabia, the Emirates, Kuwait, Bahrain and Jordon. Other countries also joined, from the European Union and Russia, with all its power and capabilities, and even the United States promised to resume aid to Egypt.
The participants were visibly moved to see the strong-willed and stern Prime Minister Mahlab hardly able to fight back the tears of joy at the unequivocal success of this conference, a conference which the government spent months of tremendous effort to organize and secure.
In energy, housing, and transportation, 18 major agreements were signed, totaling an investment of $85 billion.
The most important agreement of the conference was a $45 billion investment in a new capital city for Egypt, signed with Capital City Partners of the UAE.
Electricity Deals totaling $19.4 billion in electricity were made, hopefully ending the power failures that have plagued Egyptian consumers. These include:
– $7 billion memorandum of understanding between the Ministry of Electricity and the Misr-Saudi Company – $10 billion investment signed by the Ministry of Electricity and Siemens.
– $2.4 billion investment by the Saudi-owned ACWA Power with Emarat Misr and the Ministry of Electricity.
Italy’s Eni agreed to invest $5 billion for the development of oil fields in the Mediterranean Sea, the western desert, the Delta, and Sinai for the production of 900 million cubic feet of gas. This should cover a substantial part of the public need.
These few examples illustrate the scope of projects and finance now put in place to ensure a prosperous future for Egypt. By the will of its people and its leaders, and the trust and contribution of its brothers and allies, Egypt will prevail.
Translated from Al Masry Al Yom