Germany's Siemens Pledges $10.5B in Egypt Power Projects

March 14, 2015 3:48 PM

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German industrial giant Siemens agreed to invest $10.5 billion ($10 billion euros) in Egypt on Saturday, with projects to build power plants that will boost the country's electricity generation capacity by up to a third.

The agreements were the largest single package of new deals signed at an international investment conference that Egypt hopes will spur its sagging economy after four years of unrest following a 2011 uprising.

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