Egypt PM to form committee to protect TMG investors

Reuters
1 Min Read

CAIRO: Egypt’s Prime Minister is forming a committee to preserve the rights of citizens and investors in Talaat Moustafa’s (TMGMadinaty project, the state news agency said on Wednesday.

Egypt’s High Administrative Court on Tuesday upheld a ruling that a housing ministry body broke the law by selling the land without putting it up for public auction.

"Prime Minister Ahmed Nazif has decided to form a committee to review the progress of the Madinaty project … to ensure the work on the project does not stop and to preserve the rights of citizens and investors," the cabinet spokesman was reported as saying. 

Share This Article
By Reuters
Follow:
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms.