$ 150 million in German - Egyptian new company for tourism investment

It was agreed among the German company Acor and some Egyptian investment companies on establishing a 150 million dollars new company for tourism investment. This was stated by Ahmed El-Maghrebi, member of the 6th of October City investors association, saying that the new company will work on magnetizing the international investments and establishing a set of hotels to increase hotel capacity and confronting international tourism requirements, assuring that the company will begin during 2 months establishing a series of hotels in the new and the tourism cities in Egypt.