Prime Minister Mostafa Madbouli has witnessed the signing ceremony of an agreement with a US consortium to upgrade the Tahrir complex (the Mogamma) building at a cost of over 3.5 billion pounds.

The signing ceremony was attended by Planning Minister and Chairperson of the Sovereign Fund of Egypt Hala el Saeed.

The US consortium is made up of Global Ventures, Oxford Capital and Al Otaiba Investments.

Saeed said the deal to upgrade the historical building came after an international bid, involving various local companies and international ones which seek to do business in Egypt for the first time.

She added that the fund’s strategy seeks to lure more investors to pump investments into Egypt and meet their needs, highlighting efforts exerted by the government for developing the country’s basic and technological infrastructure, and introducing radical economic reforms.

Saeed stressed that Egypt is in the course of making more achievements based on its development plans aimed to achieve Egypt Vision 2030.

Source: State Information Service Egypt