Ismail Gaber, Head of the Egyptian Industrial Development Authority (IDA) announced receiving an offer from a Kuwaiti group to construct a steel complex in Gulf of Suez with mega investments, according to Al Mal.
The top official declined to name the Kuwaiti group. He added that the group demanded energy supply from the government.
Gaber also said a Chinese firm producing fiberglass plans to double its investments in the local market to 200 thousand tpa.
He also said IDA approved a request from a UAE firm to set up a sugar plant in Upper Egypt.