Sisi to Ink Energy Deals in China

Sisi to Ink Energy Deals in China
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.




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