UK Cheerleads For Egypt Investment30 May 2018 14:55
The UK will be providing Carbon Holdings� Tahrir Petrochemicals Corporation (TPC) with �an unprecedented� USD 1.6 bn financing package through UK Export Finance, the country�s export credit agency, UK Minister of Investment Graham Stuart told us in an interview in Cairo yesterday.
TPC could help double Egypt�s total exports, catalyze industrial growth: �We are excited about Egypt developing its downstream capabilities and supportive of the aspiration that the plant could help double total Egyptian exports,� he said, adding that the project will not only create jobs, but could also serve as a �catalyst for the development of more manufacturing and other labor intensive activities.� The UK government is in the �closing stages� for the financing, he also said.
The financing package for TPC is a �show of confidence� in Egypt and its reform program from its �top foreign direct investor,� Stuart said, adding that UK investments round off to 41% of Egypt�s total FDI inflows.
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@grahamstuart Member of Parliament for Beverley & Holderness and Minister for Investment at Department for International Trade