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Tuesday, 12 July 2016

18 projects inked at Egyptian-Chinese ministerial committee meeting

China agreements finalized on day two of ministerial visit to Beijing: Trade Minister Tarek Kabil and Investment Minister Dalia Khorshid inked final agreements with Chinese Commerce Minister Gao Hucheng and chairman of China’s National Development and Reform Commission Xu Shaoshi for 18 projects, all of which appear to have been previously announced, Al Masry Al Youm reported. There are no surprises so far in the list of projects, highlights of which include two power plants in Hamrawein on the Red Sea coast; an electricity distribution grid upgrade project; and the first phase of the new administrative capital, which includes 12 ministerial buildings, an exhibition centre, a conference hall, a House building and a Cabinet building.

Not mentioned: The USD 1.5 bn-plus Six of October monorail project, where a consortium of Bombardier and Orascom Construction is still going head-to-head with China’s AVIC. Some of the projects are now in the execution phase, while others are still on the drawing board, Kabil told the Middle East News Agency. Today is the second of the ministers’ three-day visit to Beijing.

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