Egypt asks UAE to replace Turkish firm for Sinai mine project

UAE is among the first Arab countries to welcome Morsi's overthrow and has since pledged $3 billion to shore up Egypt's faltering economy.

Egypt asks UAE to replace Turkish firm for Sinai mine project

World Bulletin/News Desk

Egypt has asked the United Arab Emirates (UAE) to replace a Turkish company for the development of a coal mine in the Sinai Peninsula.

"We have suggested that the UAE participate in the development of the Maghara coal mine," an Egyptian Petroleum Ministry official told Anadolu Agency.

KCG, one of the largest Turkish companies working in the field of textiles and energy, had proposed using the coal produced by the mine to build a cement factory.

"But the Turkish company has not presented any feasibility studies for the project," the ministry official said.

He added that political tension between Egypt and Turkey following the July 3 ouster of elected President Mohamed Morsi by the military had cast a shadow over KCG's desire to invest in the mine.

Ankara has been critical of the Egyptian army's overthrow of democratically-elected Morsi, with Turkish Prime Minister Recep Tayyip Erdogan insisting that the ousted leader was still Egypt's legitimate president.

KCG officials could not be reached for comment on the issue.

The UAE was among the first Arab countries to welcome Morsi's overthrow and has since pledged $3 billion to shore up Egypt's faltering economy.

Last Mod: 11 Ekim 2013, 03:40
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