Egypt is discussing with two leading Saudi firms possible business opportunities, Invest-Gate reports.

Minister of investment and international cooperation Sahar Nasr discussed on Sunday, August 28, with Saudi investors Abdulrahman Sharbatly and Fahd El-Shobokshi means to increase their investments in Egypt.

The current investments of Sharbatly and El-Shobokshi in Egypt are valued at USD 3 bn.

El-Sharbatly plans to pump USD 2.15 bn worth of new investments in Egypt, of which USD 1 bn will be invested in expansion projects for Golden Coast El Sokhna Company for Touristic Investment.

The expansion projects will be in Sharm El-Sheikh’s Nabq area and Hurghada’s Soma Bay, both overlooking the Red Sea.

A total of USD 150 mn will be invested in the second production line of South Valley Cement Company.

A further USD 1 bn will be invested in the implementation of new projects with the Arab Development Company (ARCO), which has a number of real estate developments across Egypt including projects in Cairo, the North Coast and Marsa Alam.