{"id":624163,"date":"2018-09-02T04:12:52","date_gmt":"2018-09-02T04:12:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/"},"modified":"2018-09-02T04:12:52","modified_gmt":"2018-09-02T04:12:52","slug":"el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/","title":{"rendered":"El Sisi signs five cooperation agreements with Chinese President Xi Jinping"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt, China sign cooperation agreements worth bns:<\/strong> President Abdel Fattah El Sisi and Chinese Premier Xi Jinping witnessed the signing yesterday of cooperation agreements ahead of the China-Africa Cooperation Forum in Beijing, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/468918966960822?__tn__=-R\">according to an Ittihadiya statement<\/a>. While the presidency confirmed no detail of the pacts, information has filtered into the local press, with <a href=\"http:\/\/www.sis.gov.eg\/Story\/134956\/Sisi%2c-Xi-Jinping-witnesses-signing-of-five-cooperation-deals?lang=en-us\">MENA reporting<\/a> that five agreements were signed in areas including energy and housing. Other sources, <a href=\"http:\/\/www.almasdar.com\/82651\">including Al Masdar<\/a>, say the agreements are worth an estimated USD 21.9 bn. These include:<\/p>\n<ul>\n<li><strong>Building a refinery: <\/strong>The Oil Ministry signed a USD 7.1 bn agreement to develop with China a refinery at the Suez Canal Economic Zone. <\/li>\n<li><strong>USD 4.4 bn Hamrawein \u201cclean coal\u201d power plant: <\/strong>Electricity Ministry sources <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/24\/eehc-to-sign-final-contracts-for-hamrawein-coal-power-plant-in-september\/\">had previously said<\/a> that a consortium made up of Hassan Allam Construction, China\u2019s Shanghai Electric and Dongfang Electric will source 78% of the USD 4.4 bn needed to build the plant through Chinese financiers, with the balance (around USD 950 mn) set to be acquired through local banks.<\/li>\n<li><strong>USD 2.7 bn hydroelectric plant: <\/strong>A USD 2.7 bn agreement to help develop the pumped-storage hydroelectric plant in Attaqa.<\/li>\n<li><strong>Business district in new capital goes to Chinese: <\/strong>A USD 3.5 bn agreement to develop the second phase of the new administrative capital business district and pledges for USD 3 bn in investments in the development of phase one of the district. An MoU with the China Export and Credit Insurance Corporation was signed to help provide funding for the project.<\/li>\n<li><strong>USD 450 mn in new assistance<\/strong> to help improve Egypt\u2019s electricity grid.<\/li>\n<li><strong>High-speed rail line: <\/strong>A USD 673.2 mn loan from China to develop a high-speed electric railway line linking 10 Ramadan to the new capital. The Chinese will also provide a USD 51.2 mn grant for the project.<\/li>\n<li><strong>A USD 45 mn agreement<\/strong> to develop the Nile Sat 2 satellite.<\/li>\n<\/ul>\n<p><strong>Four new contracts are also set to be inked during the president\u2019s visit to Beijing.<\/strong> These include a contract to build a textiles factory with China\u2019s Shandong Ruyi Technology Group, <a href=\"http:\/\/www.xinhuanet.com\/english\/2018-09\/01\/c_137436109.htm\">Suez Canal Economic Zone Vice Chairman Mahfoz Taha tells Xinhua<\/a>. Other contracts include another textiles factory, a factory for gypsum board production, and a fourth for construction materials production.<\/p>\n<p><strong>The agreements have caused a stir in the local press and on the airwaves<\/strong> as the talking heads zero in on how they represent a \u201cnew era of cooperation\u201d between the two sides. Former diplomat Gamal Bayoumi told Al Hayah fi Masr that the agreements would help with our current account deficit and balance of trade, adding that Egypt needs Chinese expertise to advance in many fields (<a href=\"https:\/\/www.youtube.com\/watch?v=5MRC_ansD8M\">watch, runtime: 9:22<\/a>). Al Shorouk editor-in-chief Emad Al Din Hussein made the rounds of the talk shows last night to praise the agreements (<a href=\"https:\/\/www.youtube.com\/watch?v=0HI56zabQfs\">watch, runtime: 35:24<\/a>), which were also covered on Al Hayah fi Masr (<a href=\"https:\/\/www.youtube.com\/watch?v=6BuVNtm4qWM\">watch, runtime: 1:47<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt, China sign cooperation agreements worth bns: President Abdel Fattah El Sisi and Chinese Premier Xi Jinping witnessed the signing yesterday of cooperation agreements ahead of the China-Africa Cooperation Forum in Beijing, according to an Ittihadiya statement. While the presidency confirmed no detail of the pacts, information has filtered into the local press, with MENA [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624163","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7cfe9c62-722a-4929-b33b-b25588676fc2","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[624158],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>El Sisi signs five cooperation agreements with Chinese President Xi Jinping - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi signs five cooperation agreements with Chinese President Xi Jinping\" \/>\n<meta property=\"og:description\" content=\"Egypt, China sign cooperation agreements worth bns: President Abdel Fattah El Sisi and Chinese Premier Xi Jinping witnessed the signing yesterday of cooperation agreements ahead of the China-Africa Cooperation Forum in Beijing, according to an Ittihadiya statement. While the presidency confirmed no detail of the pacts, information has filtered into the local press, with MENA [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-02T04:12:52+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"El Sisi signs five cooperation agreements with Chinese President Xi Jinping\",\"datePublished\":\"2018-09-02T04:12:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/\"},\"wordCount\":468,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/\",\"name\":\"El Sisi signs five cooperation agreements with Chinese President Xi Jinping - 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