Sisi witnesses signing of 26 MoUs with Chinese companies

GMT 03:21 2014 Thursday ,25 December

Arab Today, arab today Sisi witnesses signing of 26 MoUs with Chinese companies

President Abdel Fattah El Sisi
Beijing - MENA

 Visiting Egyptian President Abdel Fattah El Sisi witnessed the signing ceremony of 26 memorandums of understanding (MoUs) between the Egyptian government and a number of Chinese companies.
Under the agreements, the Chinese companies will carry out several projects in fields of electricity, renewable and new energy with the use of coal and generating electricity in the Nile River.
They will also renovate the railways, establish high-speed train between Alexandria and Aswan, develop one of the ports, set up a factory in Behira governorate to transfer rice straw into paper and launch flights between Egyptian and Chinese cities.
Following signing the MoUs with the Chinese side, Sisi extended thanks for the warm reception which was accorded to him from senior Chinese officials, said Presidential Spokesman Alaa Youssef.
Sisi also considered signing such agreements as a first step in the comprehensive strategic cooperation between Egypt and China, added the spokesman.
Talking about his talks with the Chinese president and a host of Chinese officials, Sisi said that China is keen on boosting investment in Egypt in cooperation with a host of Arab countries, said the spokesman.
Sisi also invited Chinese investors to beef up their investments in Egypt and affirmed that Egypt is committed with improving the investment climate and taking all the necessary steps to reduce bureaucracy, according to the spokesman.

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