President Abdel Fattah al-Sisi begins tomorrow an important state visit to China, to participate in its 70th
World War II end anniversary celebration, as part of an Asian tour which he had initiated with Singapore and will end with Indonesia, reported Al Mal
Sisi and his Chinese counterpart are scheduled to sign a number of understanding memoranda, funding agreements as well as cooperation protocols in a number of areas, chiefly energy industry, small and medium-sized enterprises. The two leaders will also uncover some joint investment projects between a number of businessmen and private sector in the two states.
Ministry of Electricity and Renewable Energy official sources said that an understanding memorandum is expected to be inked with Exaim bank of china, China exports and Imports Bank, and The China Development Bank (CDB) , to finance three projects in power sector.
They added that the three projects include pumping and storage project to generate electricity, pointing out that it will be held at Al-Galala Mount in Ataka zone in Suez, with a 2100 megawatts capacity and a 1.8 billion estimated cost.