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SHARM EL-SHEIKH, Egypt – 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.