German Metro Company invest 210 million mark in Egypt

Egyptian Prime Minister Atef Ebeid Tuesday met with a delegation representing the German Metro Company.

Minister Hassan Khedr, who attended the meeting, said talks covered the executive steps to begin the company's activities in the wholesale field.

"Egypt needs such activities to activate the market movement as the company is marketing more than 42 commodities covering all needs of the Egyptian citizens, Khedr said.

The company will also help market Egyptian exports in its branches abroad, he added.

The company has earmarked 210 million Deutsche Marks as initial investments in the first phase of its activity, he said`, stressing the Egyptian government's support for encouraging foreign investments.

Hans Koeber, the company's representative, lauded the climate of investment in Egypt, adding that the company will increase its investments in Egypt after the operation of the new branches.