ICEC

China, Egypt to sign electricity deals during Chinese president’s Egypt visit

Egyptian Ministry of Electricity is expected to sign six new agreements during Chinese President Xi Jinping’s three-day-visit to Cairo that kicks off Wednesday, minister Mohamed Shaker announced Monday.

The ministry is expected to sign six deals with the China Export and Credit Insurance Corporation (Sinosure) and the Export-Import Bank of China, to finance electricity-related projects in Egypt.

Chinese president Xi Jinping will arrive in Cairo on Wednesday to meet his Egyptian counterpart Abdel-Fattah El-Sisi to discuss regional matters and bilateral relations, then will head to Luxor on Thursday.

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.

The Chinese president’s trip is part of a larger Middle East tour, the first of its kind in more than 10 years. His MENA tour will also include visits to Saudi Arabia and Iran.

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