CAIRO: President Abdel Fatah al-Sisi held Monnday meetings with the Ministers of Housing and Electricity to review cooperation agreements between Egypt and China ahead of Chinese President Xi Jinping’s expected visit to Cairo, according to presidential statements.
Minister of Electricity Mohamed Shaker updated Sisi on bilateral Memoranda of Understanding (MoUs) that will be signed with Chinese companies in presence of President Jinging who will visit Egypt on Jan. 20 to22.
It is expected that the Ministry will sign two MoUS with the China Export and Credit Insurance Corporation (Sinosure) and the Export-Import Bank of China, in light of the financial cooperation between both sides, particularly in financing electricity-related projects.
Sisi also previewed construction and infrastructure projects that will be signed with Chinese side; Minister of Housing Mostafa Madbouly said that Chinese President will attend the signature of contracts of a project of providing drainage services for 1,314 villages in governoartes of Menoufia and Gharbia, and in Upper Egypt with cost of $3 billion.
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 three companies formed an alliance for constructing new capital city’s governmental district that includes ministerial headquarters, public service institutions, halls for international conferences, 15,000 housing units, a public park, and buildings for embassies on an area of land of 10,500 acres located on theCairo-Suez Desert Road.