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Monday, 5 November 2018

Madbouly meets with Chinese companies in Shanghai, attends China’s CIIE

Madbouly meets in Shanghai with companies taking part in national infrastructure projects: Prime Minister Moustafa Madbouly held talks yesterday with senior executives from Shanghai Electric and Dong Fang, the two Chinese energy companies building the USD 4.4 bn, 6 GW Hamrawein “clean coal” power plant, according to a Cabinet statement. The companies, , are conducting environmental impact studies and preparing to launch a survey of the construction site soon. Execs from Shanghai Electric – which is leading the consortium – are set to sit down this week with officials from state-owned Egyptian Electricity Holding Company (EEHC) to finalize the project’s USD 4.4 bn financing arrangements.

Madbouly also sat down with chairman of China State Construction Engineering Corporation, the company developing the business district of the new administrative capital, according to a Cabinet statement. The company will begin developing the district’s USD 3.5 bn second phase as soon as an agreement, gets finalized.

Madbouly is in Shanghai to attend the first edition of the China International Import Expo(CIIE), which kicks off today through to Saturday. Egypt was designated as the event’s guest of honor, according to Ahram. The CIIE is the Chinese government’s new global trade show as it moves forward with its Belt and Road Initiative.

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