China and Egypt Joint Projects Total $7.5 bn

Thursday, 10th November 2016

The total value of the joint projects between Egypt and China currently underway amounts to $7.5 bn, according to the Cabinet’s Spokesperson Hossam El Qawish, Mubasher reported on Wednesday.

The projects are focused on several sectors including electricity, housing, sewage, transportation and solar energy, El Qawish added.

Chinese officials previously met with Prime Minister Sherif Ismail to review top priority joint projects in development and services, according to Shorouk News.

Chinese President Xi Jinping previously visited Egypt in early 2016 to sign 20 agreements totalling investments of $15 bn, and just last month, China Fortune Land Development signed contracts with the Housing Ministry and Investment Ministry to develop 60 km in the new Administrative Capital at a cost of $20 bn, with investment disbursed over phases.

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