Daily News Egypt: Egypt Kuwait Holding announces gas field purchase north of Suez

The Egypt Kuwait Holding (EKH) company announced the purchase of a gas field from a French company north of Suez, according to a cabinet statement on Sunday evening.

Cabinet Spokesperson Hossam Al-Qaweesh said that during a meeting with Prime Minister Ibrahim Mehleb on Sunday, the company confirmed it increase investments during the coming phase and expanding into new areas. The company also added that it has plans to implement projects to produce electricity from new and renewable energy.

EKH management did not disclose details about the field it purchased or its value, but said it will work to increase the amount of gas produced from that field.

Mehleb, according to the cabinet statement, said: “The government is making every effort to remove all obstacles facing investors and is aware of their right to a favourable investment climate that will bring them profits.”
MORE