Sharm El-Sheikh – Mubasher: Saudi’s PepsiCo and Almarai and Egypt’s Bayti plan to invest $500 million in their juice plant in Egypt, according to media reports.

PepsiCo's announcement comes a day after GCC states pledged a further $12 billion of investments and deposits at Egypt's central bank.

Egypt Economic Development Conference (EEDC) kicked off Friday in the Red Sea resort of Sharm El-Sheikh. The three-day summit aims to lure more foreign investments.