New consulting firm for Egypt’s mining industry
Cairo, May 28, 2014
Egypt's Ministry of Petroleum has signed a deal with SRK Consulting, a leading practice providing consultancy services to the earth and water resource industries, to set up a consultation and technical services company for the mining industry, said a report.
The firm’s paid up capital could reach $10 million and it would provide consultation services to companies and investors in the mining sector and abroad, said the Zawya report.
"Subsidiaries of the Ministry of Petroleum, such as Enppi and Petrojet, in addition to the Egyptian Mineral Resources General Authority will own a stake in this company of no less than 51 per cent while the remaining share will be held by (SRK)," Fikri Youssef, undersecretary for mineral resources, was quoted as saying.
There is a shortage of companies providing consultation and technical services to the mining industry in the Mena region despite growth in the sector, he added.
