Eni Announces Ambitious $7.7 Billion Investment Plan in Egypt

Italian energy behemoth Eni is set to make a substantial investment of approximately $7.7 billion in Egypt over the next four years, as confirmed by Ahmad Fahmi, the Egyptian Presidential spokesman. The announcement follows a meeting between Egyptian President Abdul Fatah El Sisi and Eni’s CEO, Claudio Descalzi.

Egyptian President El Sisi commended the significant portfolio of activities currently being spearheaded by the Italian energy giant in Egypt, underlining the strategic importance of this partnership.

The planned multi-billion-dollar investment reaffirms Eni’s commitment to Egypt’s energy sector, showcasing the country’s appeal as a key destination for substantial foreign investments. Egypt continues to be an attractive hub for global energy players, and this substantial commitment is poised to bolster the nation’s energy infrastructure and contribute to its economic growth.

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