Half projects in Egypt March investment conference to be in energy sector

Half the projects Egypt will propose at a March investment summit will be in the energy sector, the minister of international cooperation said on Tuesday.

The government of President Abdel Fattah al-Sisi sees the conference, partly supported by Gulf allies and due to be held in the resort town of Sharm el-Sheikh, as playing a key role in turning around an economy battered by four years of turmoil.

Securing financing for Egypt's energy sector, which has seen an increase in foreign investment in past months, will be a major part of the conference, international cooperation minister Naglaa El Ahwany told Reuters in an interview.

"I would say half of them, half of the projects we'll propose" will be in energy, Ahwany said.

Egypt's willingness to push fuel market reforms and stick to debt repayment plans has led to an unexpected resurgence in oil and gas exploration and supply deals previously delayed by political upheaval.