Italy invests $330 mln. in sheet metal project

Italy affirmed its commitment to more investment with a pledge to invest $330 million in a sheet iron project in one of Egypt's free trade zones.

Chairman of the Italian Export Guarantees Authority Giorgio Fellini and a representative of an Italian business committee met with Prime Minister Atef Ebeid to discuss Italy's share in the joint project, which will produce iron sheets for export. The total cost and location of the project was not mentioned.

Italy's investment in this important project reflects its confidence in the Egyptian market, Ebeid said.