Minister of Investment and International Cooperation, Sahar Nasr said that she signed two agreements with the Chinese in the presence of President Abdel Fattah AL-Sisi and his Chinese counterpart. These two agreements include a memorandum of understanding with the Chinese Minister of Commerce to implement the electric train project that links the 10th of Ramadan City with the new administrative capital through Chinese finance with a total cost of about $ 739 m.
The second agreement is an economic and technical cooperation agreement in which china will provide a $45 m non-refundable grant for the implementation of the Egypt Satellite 2 (Egypt Sat-2) project to serve research projects and remote sensing, according to Nasr in a statement to the media delegation accompanying the president on his visit to China.
She explained that the electric train project is one of the priority national projects to link Cairo with the new administrative capital through a transport network for mass transportation, also it contributes to providing more economic opportunities in the region and linking new cities and industrial areas that will be established within the new administrative capital, this will lead to providing thousands of work opportunities.
Nasr pointed out that “Egypt Sat-2” is one of the leading projects in cooperation with the Chinese partner to serve the purposes of research projects and remote sensing, as China is among the leading countries in the field of space technology. The minister stressed on the importance of the BRICS Summit, especially that Egypt seeks to be one of its ten most important partners.
Egypt also seeks to promote investment opportunities among the countries which are members in the summit, which are Brazil, China, Russia, South Africa and India.
Nasr said that the president’s visit to China comes within the framework of strengthening the strategic partnership between Egypt and China, which witnessed great change during the past period, as China’s investments appeared in various projects in various fields to serve the economic and social development goals in Egypt.