Egypt, China Sign Agreement for 15 Projects worth $ 10 bnSource: www.export-egypt.com 6/16/2015, Location: Africa |
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Egypt and China signed on 15/6/2015 a framework agreement to implement 15 projects worth $10 billion.
The projects aim to boost bilateral industrial and investment relations in electricity, petroleum, natural gas, railways, highways, ports, mining, construction materials, chemical, optical industries, textiles, electrical appliances and others. This came during a press conference that was held on the sidelines of the two-day meetings of the Egyptian-Chinese joint technical committee. Minister of Trade and Industry Mounir Fakhry Abdel Nour and Investment Minister Ashraf Salman led the Egyptian team at the meetings with the participation of representatives from finance, electricity, transportation and international cooperation ministries. The projects include the establishment of three power plants, railways linking east Cairo with 10th of Ramadan City, multi-purpose station in Alexandria port and trains and glass and leather factories as well as developing Alexandria-Abu Qir railway line. Abdel Nour said that a number of Chinese banks will finance the projects, adding that a joint committee will be formed to follow up the implementation of them. Another consulting committee that includes a number of companies from both countries will be formed to discuss implementation of more joint projects. |
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