{"id":640856,"date":"2017-09-06T03:54:17","date_gmt":"2017-09-06T03:54:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/"},"modified":"2017-09-06T03:54:17","modified_gmt":"2017-09-06T03:54:17","slug":"egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/","title":{"rendered":"Egypt, China sign three MoUs on security, launching new satellite, electrical rail project"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Egypt inks major agreements with China at the BRICS Summit: <\/strong>Egypt and China inked a number of agreements on key strategic projects on the sidelines of the 2017 BRICS Summit in Xiamen, the likes of which we haven\u2019t seen since <a href=\"https:\/\/enterprise.press\/stories\/2016\/12\/27\/china\/\">Chinese premier Xi Jinping\u2019s visit to Cairo last year<\/a>.<\/p>\n<p><strong>The most notable of these was for USD 739 mn in funding for the first phase of the <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2017\/08\/28\/is-the-govt-struggling-to-fund-its-share-of-usd-1-25-bn-electric-railway-line\/\"><strong>electric railway project<\/strong><\/a>linking Salam City with the new administrative capital, according to a <a href=\"https:\/\/ent.news\/2017\/9\/268.pdf\">statement from Ittihadiya (pdf)<\/a>. The signing came with the announcement that the Export-Import Bank of China has approved funding the project\u2019s second phase to the tune of USD 461 mn, <strong>bringing the total funding of the project to around USD 1.2 bn<\/strong>, Transport Minister Hisham Arafat said, <a href=\"https:\/\/alborsanews.com\/2017\/09\/05\/1049065\">according to Al Borsa<\/a>.<\/p>\n<p><strong>This comes as the Asian Infrastructure Investment Bank (AIIB) pledged up to USD 210 <\/strong><strong>mn in debt financing to fund renewable energy projects<\/strong>, the bank said in a <a href=\"https:\/\/www.aiib.org\/en\/news-events\/news\/2017\/20170905_001.html\">statement yesterday<\/a>. The funding will be used to develop 11 <a href=\"https:\/\/www.aiib.org\/en\/projects\/approved\/index.html\">solar power plants<\/a> with a total capacity of 490 MW, under phase two of the feed-in tariff program. The International Finance Corporation is also helping fund the project \u201cand attracting additional lenders from the private sector and bilateral financial institutions.\u201d The plants will be developed by TAQA Arabia Solar Energy, SP Energy, Phoenix Power 1, Winnergy, Arinna Solar Power, ARC Renewable Energy, Delta Renewable Energy, Alcazar Energy Egypt Solar 1, TBEA Enara, Enara SunEdison, and Al Subh Solar Power. \u201cWe are supporting this project because it contributes to Egypt\u2019s renewable energy capacity, and it will help position the country as a regional energy hub, which will have economic benefits for the entire region,\u201d says D.J. Pandian, Vice President and Chief Investment Officer of the bank. <a href=\"https:\/\/www.cnbc.com\/2017\/09\/05\/egypt-renewable-energy-projects-get-210-million-boost.html\">CNBC has taken note of the story<\/a>, as has the <a href=\"http:\/\/www.climateactionprogramme.org\/news\/the-asian-infrastructure-investment-bank-invests-210-million-to-egypts-mega\">UN\u2019s Climate Action Programme<\/a>.<\/p>\n<p><strong>Other MoUs signed include<\/strong> a USD 45 mn technical grant for the launch of a new satellite and an agreement on security cooperation, said Ittihadiya.<\/p>\n<p><strong>More agreements with China on the horizon:<\/strong> We are expecting to hear soon of the signing of a USD 13.5 bn contract with <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/12\/cfld-to-invest-usd-4-bn-over-the-next-four-years\/\">China Fortune Land Development Company<\/a> to develop sections of the New Administrative Capital. Talks to finalize the long-awaited contract are in their final phase, government <a href=\"https:\/\/alborsanews.com\/2017\/09\/05\/1049063\">sources tell Al Borsa<\/a>. The state-run Egyptian Countryside Development Company (which runs the 1.5 mn feddan land reclamation project) said it expects to sign an MoU with a Chinese partner during the expo to collaborate on growing long-staple cotton in Egypt, <a href=\"https:\/\/alborsanews.com\/2017\/09\/05\/1049087\">the newspaper reports<\/a>. Trade and Industry Minister Tarek Kabil, who is sticking around in China to continue bilateral trade talks today, held a high-level meeting with the China Development Bank to discuss funding for Chinese projects in Egypt, particularly in electricity generation and transport. He is also expected to kick-off the 2017 China-Arab States Expo today, where Egypt is the guest of honor.<br \/>\n<strong>P<\/strong><strong>resident Abdel Fattah El Sisi also met with<\/strong> <strong>a number of senior Chinese company <\/strong><strong>executives <\/strong>yesterday, inviting them to invest, particularly in the Suez Canal Axis, according to <a href=\"http:\/\/www.miic.gov.eg\/Front\/Media\/NewsDetail.aspx?MedId=8355\">an official statement<\/a>. El Sisi\u2019s second speech at the Summit, which he <a href=\"https:\/\/ent.news\/2017\/9\/1760.pdf\">delivered yesterday (pdf)<\/a>, also centered on the same topic. Ittihadiya said Chinese executives are particularly interested in infrastructure, transport, and renewable energy.<\/p>\n<p><strong>El Sisi also held cooperation talks with <\/strong><a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2017\/09\/Sisi-India-Prime-Min-Meet.pdf\"><strong>Indian Prime Minister Narendra Modi<\/strong> (pdf)<\/a>. The two sides agreed that a joint ministerial committee will begin preparations for Modi\u2019s planned trip to Cairo. Modi <a href=\"https:\/\/twitter.com\/narendramodi\/status\/904956021885554688?ref_src=twsrc%5Etfw&ref_url=http%3A%2F%2Fwww.thestatesman.com%2Fworld%2Findia-egypt-agree-strengthen-bilateral-ties-1502487690.html\">said on his Twitter<\/a> he was \u201cdelighted\u201d to meet El Sisi and discuss \u201cfurther strengthening our historical ties with Egypt.\u201d Also on the agenda was a <strong>meeting with <\/strong><a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2017\/09\/Sisi-South-Africas-Prez-Meet.pdf\"><strong>South African President Jacob Zuma<\/strong> (pdf)<\/a>, who Sisi invited to attend the Africa 2017 forum in Sharm El Sheikh in December. The two discussed counterterrorism and a Cairo-Cape Town highway project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt inks major agreements with China at the BRICS Summit: Egypt and China inked a number of agreements on key strategic projects on the sidelines of the 2017 BRICS Summit in Xiamen, the likes of which we haven\u2019t seen since Chinese premier Xi Jinping\u2019s visit to Cairo last year. The most notable of these was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":640857,"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-640856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ed0c2075-6146-481d-9124-d22cd4ca3b43","order":"0","is_powered_by":true,"section_story_id":"3e18d17e-e4d9-4cb4-a04a-de587051d75a","story_type":"1","photo_url":"https:\/\/ent.news\/2017\/9\/872.jpg","photo_position":"above","related_issue":[640847],"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>Egypt, China sign three MoUs on security, launching new satellite, electrical rail project - 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\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt, China sign three MoUs on security, launching new satellite, electrical rail project\" \/>\n<meta property=\"og:description\" content=\"Egypt inks major agreements with China at the BRICS Summit: Egypt and China inked a number of agreements on key strategic projects on the sidelines of the 2017 BRICS Summit in Xiamen, the likes of which we haven\u2019t seen since Chinese premier Xi Jinping\u2019s visit to Cairo last year. The most notable of these was [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-06T03:54:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2017\/9\/872.jpg?fit=%2C&ssl=1\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt, China sign three MoUs on security, launching new satellite, electrical rail project\",\"datePublished\":\"2017-09-06T03:54:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/\"},\"wordCount\":647,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2017\/9\/872.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/09\/06\/egypt-china-sign-three-mous-on-security-launching-new-satellite-electrical-rail-project\/\",\"name\":\"Egypt, China sign three MoUs on security, launching new satellite, electrical rail project - 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Egypt and Russia have reportedly finalized their agreement over the USD 30 bn Dabaa nuclear power plant, the Associated Press said on Sunday, citing Russian media reports. The news surfaced after President Abdel Fattah El Sisi met with Russia\u2019s Vladimir Putin\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":643114,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/30\/el-sisi-to-sign-cooperation-agreements-with-china-next-week-sits-down-for-chat-with-chinese-reporters-ahead-of-trip\/","url_meta":{"origin":640856,"position":1},"title":"El Sisi to sign cooperation agreements with China next week, sits down for chat with Chinese reporters ahead of trip","author":"enterpriseam admin","date":"30 August 2017","format":false,"excerpt":"El Sisi heading to China: President Abdel Fattah El Sisi is expected to sign several cooperation agreements with Chinese counterpart Xi Jinping during his trip to China next week, Beijing\u2019s ambassador to Cairo Song Aiguo said yesterday, Al Borsa reports. The ambassador did not disclose the details of the agreements,\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":624163,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/02\/el-sisi-signs-five-cooperation-agreements-with-chinese-president-xi-jinping\/","url_meta":{"origin":640856,"position":2},"title":"El Sisi signs five cooperation agreements with Chinese President Xi Jinping","author":"enterpriseam admin","date":"2 September 2018","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":587546,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/saudi-arabia-is-looking-to-join-the-brics-bank\/","url_meta":{"origin":640856,"position":3},"title":"Saudi Arabia is looking to join the BRICS bank","author":"enterpriseam admin","date":"29 May 2023","format":false,"excerpt":"Egypt joined the multilateral lender earlier this year","rel":"","context":"In &quot;AROUND THE WORLD&quot;","block_context":{"text":"AROUND THE WORLD","link":"https:\/\/enterpriseam.com\/egypt\/category\/around-the-world\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1537.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":636139,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/21\/ismail-cabinet-preliminarily-approves-unified-planning-act\/","url_meta":{"origin":640856,"position":4},"title":"Ismail Cabinet preliminarily approves Unified Planning Act","author":"enterpriseam admin","date":"21 December 2017","format":false,"excerpt":"The Ismail cabinet gave its preliminary approval yesterday to the Unified Planning Act drafted by the Planning Ministry, according to an official statement. The bill sets a framework for the state to regulate the planning and execution of national projects based on their merit, costs and sources of funding. Ministers\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":635625,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/10\/egypt-signs-funding-agreements-totaling-almost-usd-1-9-bn\/","url_meta":{"origin":640856,"position":5},"title":"Egypt signs funding agreements totaling almost USD 1.9 bn","author":"enterpriseam admin","date":"10 December 2017","format":false,"excerpt":"Egypt signed a wave of funding agreements totaling almost USD 1.9 bn over the weekend.First up, the World Bank and Egypt signed for disbursement of the USD 1.15 bn third and final tranche of a USD 3.15 bn facility to support economic reforms, the bank said in a statement on\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/640856","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=640856"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/640856\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/640847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/640857"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=640856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=640856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=640856"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=640856"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=640856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}