Egypt's Richest Family To Invest $3 Billion In Energy

Egyptian billionaire Naguib Sawiris has announced that his family will invest as much as $3 billion this year in his country’s energy sector, according to the Associated Press.

He made the announcement on Friday on the sidelines of the ongoing 3-day Egypt Economic Development Conference in the Red Sea resort city of Sharm El-Sheikh.

Egypt is playing host to more than 2,000 delegates from 112 nations including executives of multinational companies and heads of state, to the economic conference where President Abdel Fattah El-Sissi will present his economic vision to international investors with an aim to putting Egypt back on the map as a choice investment destination after 4 years of political turmoil following the 2011 uprising.