Canadian companies planning to invest USD 70 mn in gold processing facility in Egypt

INVESTMENT WATCH- A group of unnamed Canadian companies are looking to set up a USD 70 mn gold processing facility in Egypt, Canadian Chamber of Commerce President Fayez Ezz El Din tells the local press. The facility is expected to be complete in two years’ time. The companies plan on using Egypt as a hub for their gold processing activities in Africa, with a long-term plan of expanding to other countries in the continent, Ezz El Din said.