Egyptian Prime Minister Mostafa Madbouly - File photo Egyptian Prime Minister Mostafa Madbouly - File photo

Sisi’s visit to China: Agreements on electricity, housing and transportation

Tue, Aug. 14, 2018
CAIRO – 14 August 2018: Prime Minister and Minister of Housing, Utilities and Urban Communities Mostafa Madbouly met with the Ministers of Electricity, Investment, Petroleum, Transport, Agriculture, Industry, Deputy Minister of Housing, Assistant Foreign Minister for Asian Affairs and representatives of some concerned bodies. The meetings aimed to prepare for the agreements slated to be conducted with China in various fields.

The meeting discussed arrangements for the visit of President Sisi to China in September in the framework of developing historical ties between the two countries and promoting bilateral cooperation in various fields. The position of the projects to be agreed upon and signed in several sectors included electricity, transport, housing and education.

Madbouly confirmed Egypt's keenness to maximize the benefits of the comprehensive strategic partnership with China in various fields and enhance Egyptian-Chinese cooperation in the economic, investment, trade and industrial fields to finance and implement national projects and development services.

The meeting covered proposed areas of cooperation during the upcoming presidential visit, which include the transport sector through the implementation of the electric train project to connect the new cities and industrial areas to create more jobs. It also covers the education development sector and the electricity sector through the establishment of the Hamrawein coal-fired power plant, as well as an agreement to finance the construction of the second phase of the Central Business District at the New Administrative Capital.

Egypt, China sign grant for 'EgyptSat-2' worth $45M

CAIRO - 13 August 2018: Egypt and China signed Monday a grant worth $45 million for the construction of the satellite EgyptSat-2 for remote sensing applications. The grant was signed by Egyptian Minister of Investment and International Cooperation Sahar Nasr and Ambassador of China to Cairo Song Aiguo, in the presence of Minister of Higher Education Khaled Abdel Ghafar and representatives of the National Authority for Remote Sensing and Space Sciences.





Egypt and China signed on Monday a grant worth $45 million for the construction of the satellite EgyptSat-2 for remote sensing applications.

The grant was signed by Egyptian Minister of Investment and International Cooperation Sahar Nasr and Ambassador of China to Cairo Song Aiguo, in the presence of Minister of Higher Education Khaled Abdel Ghaffar and representatives of the National Authority for Remote Sensing and Space Sciences.

The Ministry of Investment clarified in a statement that this grant comes to perfect the satellite collection project’s grant amounting to $23 million, in cooperation with the Chinese Space Administration.

Nasr said that this grant affirms the strength of strategic ties with China, especially in the information technology and scientific research sector.

“This project aims to transfer Chinese technology in the satellite sector to serve the purposes of research projects and remote sensing,” she noted.

She emphasized the importance of cooperating with China in this field in light of the establishment of the Egyptian space agency.

Regarding the Egyptian-Chinese relationship, the minister stated that China is one of the closest partners to Egypt as it executes several development projects.

These projects are a Fish Collection and Integration Tests Center, a training center at the Suez Canal Economic Zone to provide a highly trained workforce to meet the requirements of industries and foreign investment in the Economic Zone, the Luxor Opera House project, and the development of the distance learning system "the first two phases."

Recently, the investment relations between the two countries witnessed progress as the Chinese firms in Egypt now rank the first in fields of information technology, electricity, communication and transport with a total of 1,558 companies.

Chinese Company to invest in Egypt by $100M

CAIRO - 9 August 2018: China's Sinoma International Engineering Company intends to establish an iron and steel plant with a production capacity of 2 million tons annually, and investments estimated at $100 million, Vice Chairman of the company Liu Zhijiang said.




On the same level, China’s Sinoma International Engineering Company intends to establish an iron and steel plant with a production capacity of 2 million tons annually, and investments estimated at $100 million, Vice-Chairman of the company Liu Zhijiang said.

This came during a meeting between Minister of Investment Sahar Nasr, a delegation from the Hebei Provincial Government of China and eight Chinese major companies, as well as the Chinese company CFLD, which is specialized in the field of construction of new cities, during their visit to Egypt.

During the meeting, Chinese companies expressed their desire to inject new investments into the Egyptian market during the upcoming period.

They also praised steps taken by Egypt to improve the business environment during the last period.

Nasr welcomed the Chinese investments in light of the appropriate economic climate as well as the recent basket of economic and legislative reforms.

The Egyptian government supports the private sector to participate in Egypt’s mega-national projects, headed by the development project in Suez Canal, the New Administrative Capital and New Alamein, the minister stated.

She added that the Egyptian government is actively encouraging private sector investments as an engine for economic growth, job creation and poverty reduction.

"Egypt has therefore carried out major economic and investment reforms," she noted.

Investment, trade ministers meet with Egyptian-Chinese business council

CAIRO - 10 August 2018: Investment and International Cooperation Minister Sahar Nasr and Amr Nassar, the Trade and Industry Minister, have held a meeting with a delegation of the Egyptian-Chinese Business Council, led by Ahmed el Suwaidi.



 
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