Agreements
In four years, 24 agreements were signed in the Mediterranean and the Nile Delta with investments totaling $2.7 billion and grants worth nearly $25 million, Raslan added.
Maait elaborated the financing came through the signing of several agreements on the sidelines of the "Funding Day" activities to provide appropriate financing from several parties to achieve sustainable food security, the transition to clean and renewable energy and the development of the water sector.
According to a statement by Presidential Spokesman Bassam Rady, the agreements and MoUs signed include fields of economic, scientific, and technological cooperation as well as investments and boosting exports.
The agreements were signed in Muscat, in addition to an initialing of the mutual recognition of the marine qualification certificates for navigators and the work of the Nuba issued by the two countries.
These agreements will support the infrastructure, logistics and technology sectors; which work to develop the capabilities of the Egyptian economy.
The agreements included a service agreement between the Egyptian General Petroleum Corporation and Baker Hughes to cooperate in the field of gas recovery and reducing carbon emissions, which was signed by geologist Alaa El-Batal, CEO of the Egyptian General Petroleum Corporation, and Engineer Tamir Nasser, Director General of Baker Hughes Egypt, according to a statement.
Total new investments amount to a minimum of $506 million, and a signature grant of $67 million to drill 12 wells, according to a statement by the Ministry of Petroleum issued Thursday.
The signed deals included one with France Alstom on manufacturing and delivering 55 air-conditioned trains for the first line of the underground metro covering maintenance operations for eight years.
The Egyptian Ministry of Transport announced Sunday the start of the activities of the “Trans MEA 2021” smart transport exhibition and conference, tomorrow morning, Monday.
These agreements come within the framework of the joint economic relations between Egypt and the United States of America, which strengthens efforts of development cooperation to support Egypt’s development vision across various sectors.
Minister of International Cooperation Rania A. Al-Mashat confirmed that the continuous follow-up of the strategy is integral to maintain the economic integration and mutual interest in development between the two countries.
He explained that the two agreements are a continuation of Shell’s strategy by focusing its investments in Egypt in the marine concession areas and deep waters.
Two successful exploration wells have been drilled, and a three-dimensional seismic survey has been conducted in the areas of the Western Mediterranean agreements for an area of 18,000 km2.
This came during A-Mashat’s meeting with a delegation from the French Treasury to follow up on the status of current projects and harness new opportunities in Egypt-France’s cooperation to provide development financing for green recovery, transportation, housing, sanitation, and health.
Molla added Wednesday that 14 new agreements were signed in several concession areas throughout Egypt during the period from March to October 2020.
Foreign ministers of Egypt, Iraq and Jordan has held a meeting Tuesday to discuss joint agreements between the three countries.
These were dedicated towards the provision of protective equipment, supplies for medical teams and isolation hospitals, strengthening the capacity of the Egyptian Red Crescent, training medical personnel as well as improving public awareness of the crisis.
The agreements are meant to finance social housing projects and a sewage grid in Bahr el Baqar area.
Two agreements come within the framework of the “Global Partnerships for Effective Development Cooperation” multi-stakeholder platform launched in April 2020.
The draft law “canceling the exemption decided on the returns of treasury bills, bonds and capital gains resulting from dealing on these bills and bonds from income tax” approved by the Parliament's Plan and Budget Committee, will not affect the exemptions established in the agreements concluded between the government and foreign countries
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