By Ahmed Allam

Sharm El-Sheikh – Mubasher: Egypt’s investment group EFG-Hermes will promote five major investment projects during its participation at the country’s economic summit that was inaugurated Friday in the Red Sea resort of Sharm El-Sheikh, said Wael Ziada, head of research, EFG.

These five projects are in fertilisers, trade, housing and real estate financing, the official added, on the sidelines of Egypt Economic Development Conference (EEDC) that kicked off today.

EFG said previously it plans to start finance lease operations after obtaining required licenses.

The investment group, capitalised at EGP 2.86 billion, owns several subsidiaries, in addition to a 63% controlling stake in Lebanon’s Cerdit Libanais and 4.7% equity in property developer SODIC. EFG’s market capitalisation on the Egyptian Exchange amounts to more than EGP 8.9 billion.