World

Egypt economic conference: investors commit $10.7 billion in deals including power, tourism

  • A delegate checks his phone at the venue for the Egyptian Economic Development Conference, a cornerstone of the government's plan to woo desperately needed investors, in Sharm el-Sheikh, Egypt, Sunday, March 15, 2015. (AP Photo/Thomas Hartwell)

    A delegate checks his phone at the venue for the Egyptian Economic Development Conference, a cornerstone of the government's plan to woo desperately needed investors, in Sharm el-Sheikh, Egypt, Sunday, March 15, 2015. (AP Photo/Thomas Hartwell)  (The Associated Press)

  • Delegates attend the Egyptian Economic Development Conference, a cornerstone of the Egyptian government's plan to woo desperately needed investors, in Sharm el-Sheikh, Egypt, Sunday, March 15, 2015. (AP Photo/Hassan Ammar)

    Delegates attend the Egyptian Economic Development Conference, a cornerstone of the Egyptian government's plan to woo desperately needed investors, in Sharm el-Sheikh, Egypt, Sunday, March 15, 2015. (AP Photo/Hassan Ammar)  (The Associated Press)

  • Egyptian Minister of Investment Ashraf Salman addresses a session of the Egyptian Economic Development Conference, a cornerstone of the government's plan to woo desperately needed investors, in Sharm el-Sheikh, Egypt, Sunday, March 15, 2015. (AP Photo/Hassan Ammar)

    Egyptian Minister of Investment Ashraf Salman addresses a session of the Egyptian Economic Development Conference, a cornerstone of the government's plan to woo desperately needed investors, in Sharm el-Sheikh, Egypt, Sunday, March 15, 2015. (AP Photo/Hassan Ammar)  (The Associated Press)

Organizers of an investment conference in Egypt say investors have committed $10.7 billion to projects in the country.

They said in a statement Sunday that the agreements include a $6.5 billion deal with Egypt's Orascom group and the Abu Dhabi-owned International Petroleum Investment Company to build a coal-fired power plant over four years. The deals were signed a day earlier.

Cairo Financial Holding, formerly led by Investment Minister Ashraf Salman, had the second-largest investment — $1 billion into a tourism fund.

Preliminary engineering and finance agreements amounting to $5.8 billion were also signed, along with a further $5.4 billion in loans and grants from international partners and organizations.

The statement did not mention billions of dollars in agreements signed with Germany's Siemens or Italy's Eni on Saturday.