High-profile Chinese delegation in Egypt to discuss Suez Canal axis projects
New Suez canal
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CAIRO: A high-profile Chinese delegation arrived in Egypt Tuesday in a four-day visit to meet with senior officials and businesspeople to discuss joint investment at the Suez Canal axis, Youm7 reported.

The delegation, headed by Chairman of Hubei Provincial CPPCC Committee Yang Song, will also discuss means to consolidate Egyptian-Chinese cooperation in all fields.

Egyptian-Chinese economic relations boomed in the past two years. In September, Cairo and Beijing signed an agreement to build and finance part of a new administrative capital east of Cairo.

In March, a Chinese delegation from Star Oil & Gas holdings along with partners from the International Drilling Material Manufacturing company offered projects of $250 million to be completely funded by the Chinese government and banks.

The proposed projects included a steel rolling factory to produce seamless pipes to supply the entire African market and other drilling and oil exploration projects.

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