Egypt, China will sign cooperation deals worth at $10B: Qianjin
TCP : Egypt will sign with China $10 billion worth of cooperation agreements during the Chinese President Xi Jinping’s three-day-visit to Cairo that kicks off Wednesday, Minister Counselor of the Chinese Embassy in Cairo QI Qianjin stated Tuesday.
Qianjin added that the agreements include the establishment of a group of projects in Suez Canal Region besides cooperation deals with the Egyptian Ministry of Civil Aviation.
Egyptian Ministry of Electricity is expected to sign certain memoranda of understanding with the China Export and Credit Insurance Corporation (Sinosure) and the Export-Import Bank of China, in light of financial cooperation between both sides, particularly in financing electricity-related projects.
Jinping is scheduled to attend the signature of final contracts with the Arab Contractors Co. and the Petroleum Projects & Technical Consultations Co. (Petrojet) and China State Construction Engineering Corporation (CSCES) concerning the establishment of Egypt’s new administrative capital city.