Reuters cited the Egyptian government as saying in a statement that the MoUs have been signed by Egyptian Prime Minister Ibrahim Mahlab with Kuwaiti companies for the development of the petrochemical facilities.
The projects are expected to commence in three to five years.
The agreements were signed with Egypt Kuwait Holding Company, Kuwait Gateway and Boubyan Petrochemical.
In 2014, the country proposed to develop refining and petrochemicals projects over the next five years with an investment of $14.5bn.
Shortage in the gas supplies slowed down the petrochemicals projects in Egypt, which is currently facing a severe energy crisis, reported the news agency.
