Chinese president soon in Egypt to discuss infrastructure investments

Chinese President Xi Jinping is expected to discuss potential investments in infrastructure projects with Egypt during his upcoming visit in the fields of transport, electricity, housing and agriculture, the government spokesman stated Friday.

Hossam Al-Qawish said in a statement that possible projects include train lines worth $1.5 billion.

Xi will visit Saudi Arabia, Iran and Egypt on a Jan. 19-23 tour, China’s Foreign Ministry said. It provided no other details.

Egypt needs foreign investment to strengthen an economy that was battered by political turmoil triggered by the 2011 uprising that toppled autocrat Hosni Mubarak.

source:Reuters