Egypt banks on president Xi Jinping’s visit to boost infrastructure

Egypt banks on president Xi Jinping's visit to boost infrastructure

Egypt banks on president Xi Jinping’s visit later this month to boost its infrastructure network seen as a key driver of the economy. A number of agreements that will align the economic interests and development goals of China and Egypt are expected to be signed when Mr Jinping visits Cairo.

According to a statement from cabinet ministers the county is focusing more in area of electricity, transportation, construction, agriculture, industry, and education.

The statement added that currently the country faces a number of challenges but in the current times the government has got enough support from the Chinese side.

Ongoing projects in the transport sector include constructing the Al-Salam-10 passenger railway line, the Belbis-Al-Robeky commercial freighting railway line, and developing a platform at Alexandria port. These projects are estimated to cost $1.5bn.

The statement added that in the power sector is currently preparing three more projects that include the mega Gabal Ataka station that is expected to increase the current storage of electricity capacity in the country at $2.3b also the two coal fired power stations which are being carried out by Chinese companies at a cost of about $4billion.

The Egyptian government prepared a proposal to establish a centre for agricultural machinery to serve the needs of Egypt’s 1.5m acre project.

Egypt is also expected to sign an agreement that would allow China to participate in reclaiming 100,000-250,000 acres from the 1.5m acres.

The visit which is the first ever by the Chinese president is expected to yield more fruits as the parties are expected to have talks on Chinese investment to the country which includes the new capital city and the Cairo administrative capital.

In most of the project that will be carried in Egypt 80% of the funding is expected to be generated by Chinese companies and government.

Cairo will seek Chinese investment in the development of sanitation networks for 260 villages in the governorates of Menufiya and Gharbeya.

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