{"id":624277,"date":"2018-09-04T04:15:17","date_gmt":"2018-09-04T04:15:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/04\/china-state-construction-inks-usd-9-6-bn-worth-of-agreements-with-egypt\/"},"modified":"2018-09-04T04:15:17","modified_gmt":"2018-09-04T04:15:17","slug":"china-state-construction-inks-usd-9-6-bn-worth-of-agreements-with-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/04\/china-state-construction-inks-usd-9-6-bn-worth-of-agreements-with-egypt\/","title":{"rendered":"China State Construction inks USD 9.6 bn worth of agreements with Egypt"},"content":{"rendered":"

INVESTMENT WATCH- More from China as CSCEC signs USD 9.6 bn in new agreements: <\/strong>China State Construction Engineering Corporation (CSCEC) signed USD 9.6 bn in new agreements with Egypt in the latest round of contracts signed during the China-Africa Cooperation Forum<\/a><\/u> in Beijing, according to Reuters\u2019 Arabic Service<\/a><\/u>. CSCEC, which is already handling a chunk of the construction on the new capital, signed a USD 3.5 bn contract for an unspecified development. We believe this is the USD 3.5 bn contract to build the second phase of the new capital\u2019s business district. The company also inked a USD 6.1 bn agreement to build a refinery at the Suez Canal Economic Zone. Initial estimates had put the refinery\u2019s total cost at USD 7.1 bn<\/a><\/u>.<\/p>\n

Hamrawein power plant contract signed: <\/strong>It has now also been confirmed that a consortium that includes our friends Hassan Allam Construction signed the EPC contracts for the USD 4.4 bn Hamrawein \u201cclean coal\u201d power plant, Xinhua reports<\/a><\/u>. The consortium is led by Shanghai Electric and Dongfang Electric.<\/p>\n

Activist group ponders just how clean the plant is:<\/strong> Despite assurances from Dongfang Electric chairman Zou Lei on how \u201cclean\u201d the plant will be, critics of China\u2019s environment record are questioning whether such a project jives with China\u2019s green commitment. \u201cThese mega projects highlight a growing gap between China\u2019s vision of South-South climate cooperation, which prioritises clean energy projects, and its actual investments across the African continent, which still include coal and hydropower projects that pose serious environmental risks,\u201d writes Lili Pike in China Dialogue<\/a><\/u>.<\/p>\n

Wait \u2014 there\u2019s more roz on the bowl:<\/strong> China\u2019s President Xi Jinping pledged USD 60 bn in fresh loans to African countries at the forum and wrote off some debt owed by poorer African nations, Reuters reports.<\/a><\/u> This will include USD 15 bn of aid, interest-free loans and concessional loans, a credit line of USD 20 bn, a USD 10 bn special fund for China-Africa development, and a USD 5 bn special fund for imports from Africa, according to the newswire. \u201cChinese companies will be encouraged to invest no less than USD 10 bn in the continent in the next three years,\u201d he said. He also cast off accusations that the funding is part of a \u201cdebt trap\u201d conspiracy. Xi had pledged a USD 20 bn package to the Arab World back in July, with Egypt having been engaged in talks to secure USD 1.2 bn of that funding<\/a><\/u>.<\/p>\n

The caveat of this latest pledge:<\/strong> The funding would not be given to \u201cvanity projects,\u201d Xi said at the forum.<\/p>\n

El-Sisi\u2019s Africa engagement drive continues on conference sidelines:<\/strong> President Abdel Fattah El Sisi met with South Sudanese President Salva Kiir in Beijing on the sidelines of the forum, according to an Ittihadiya statement<\/a><\/u>. The two discussed across-the-board cooperation and developments in South Sudan peace process.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- More from China as CSCEC signs USD 9.6 bn in new agreements: China State Construction Engineering Corporation (CSCEC) signed USD 9.6 bn in new agreements with Egypt in the latest round of contracts signed during the China-Africa Cooperation Forum in Beijing, according to Reuters\u2019 Arabic Service. CSCEC, which is already handling a chunk […]<\/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-624277","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"041514a8-cba3-4636-beac-47dc194a09d1","order":"0","is_powered_by":true,"section_story_id":"b5be957b-45c7-48af-b0e7-f3ae5c8f1d76","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624262],"teaser":"","voice_url":""},"yoast_head":"\nChina State Construction inks USD 9.6 bn worth of agreements with Egypt - 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\/04\/china-state-construction-inks-usd-9-6-bn-worth-of-agreements-with-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China State Construction inks USD 9.6 bn worth of agreements with Egypt\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- More from China as CSCEC signs USD 9.6 bn in new agreements: China State Construction Engineering Corporation (CSCEC) signed USD 9.6 bn in new agreements with Egypt in the latest round of contracts signed during the China-Africa Cooperation Forum in Beijing, according to Reuters\u2019 Arabic Service. 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The construction giant\u2019s\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575910,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/03\/hsbc-participates-in-usd-2-2-bn-loan-for-new-capital-business-district\/","url_meta":{"origin":624277,"position":1},"title":"HSBC participates in USD 2.2 bn loan for New Capital Business District","author":"enterpriseam admin","date":"3 November 2020","format":false,"excerpt":"DEBT WATCH- China State Construction locks down USD 2.2 bn loan with HSBC, others\u00a0 for new capital business district: HSBC participated in a USD 2.2 bn loan to China State Construction Engineering Corporation (CSCEC) to finance the construction of the business district of the new administrative capital, the bank said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592081,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/25\/phosphate-misr-inks-usd-842-mn-agreement-with-chinas-cscec-wengfu\/","url_meta":{"origin":624277,"position":2},"title":"Phosphate Misr inks USD 842 mn agreement with China\u2019s CSCEC, Wengfu","author":"enterpriseam admin","date":"25 December 2019","format":false,"excerpt":"Phosphate Misr signed an agreement with a consortium of the Chinese State Construction Engineering Corporation (CSCEC) and China\u2019s Wengfu Group to set up a USD 842 mn phosphoric acid complex in Abu Tartoor, according to an Oil Ministry statement (pdf) The total cost of the project is estimated at USD\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573614,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/11\/chinas-cscec-to-build-mixed-use-complex-in-south-side-of-egypts-new-alamein\/","url_meta":{"origin":624277,"position":3},"title":"China\u2019s CSCEC to build mixed-use complex in south side of Egypt\u2019s New Alamein","author":"enterpriseam admin","date":"11 August 2020","format":false,"excerpt":"China State Construction Engineering Corporation (CSCEC) will build a mixed-use complex in the southern region of New Alamein planned to be a tourist attraction, cabinet spokesman Nader Saad said, according to Al Mal. CSCEC, the world\u2019s largest construction outfit by revenue, is also investing USD 3 bn in the new\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628161,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/26\/zaki-hashem-served-as-legal-advisor-to-cscec-on-new-capital-business-district-development\/","url_meta":{"origin":624277,"position":4},"title":"Zaki Hashem served as legal advisor to CSCEC on new capital business district development","author":"enterpriseam admin","date":"26 June 2018","format":false,"excerpt":"Zaki Hashem & Partners served as legal advisor to China State Construction Engineering Company (CSCEC) on the company\u2019s USD 3 bn contract to develop the business district of the new administrative capital, Al Masry Al Youm reports. CSCEC had signed the contracts for the project last October.","rel":"","context":"In "Law"","block_context":{"text":"Law","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/law\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597712,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/02\/usd-3-bn-in-chinese-financing-for-egypt-as-el-sisi-deepens-ties-with-china-at-belt-and-road-forum-in-beijing\/","url_meta":{"origin":624277,"position":5},"title":"USD 3 bn in Chinese financing for Egypt as El Sisi deepens ties with China at Belt and Road Forum in Beijing","author":"enterpriseam admin","date":"2 May 2019","format":false,"excerpt":"USD 3 bn in fresh financing for Egypt as El Sisi deepens ties with China at Belt and Road Forum in Beijing: A series of new financing, manufacturing, and communications agreements were signed last week between Egyptian and Chinese companies as President Abdel Fattah El Sisi joined the three-day Belt\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/4\/1191.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=624277"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624277\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624262"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=624277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=624277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=624277"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=624277"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=624277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}