Egyptian industry facing energy crisis

The growth of the Egyptian industry has been restricted by the energy crisis, causing natural gas production to plummet due to declining investments in the past years, said Prime Minister Ibrahim Mahlab. Natural gas production cannot fulfill the needs of industrial growth, adversely affecting the creation of new jobs and causing high unemployment rates, Mahlab said in an address, that was given on his behalf by Trade, Industry and Investment Minister Mounir Fakhri Abdel-Nour, at a conference organized by the Egyptian Junior Business Association (EJB). Medium-term solutions are being worked out for the issue, he said, adding that the problem of investments in the oil and gas sector is to be resolved by 2016