Egypt-China one billion dollar energy deal

Egypt-China one billion dollar energy deal

Editorial Staff
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The deal, signed on the sidelines of the BRICS summit currently under way in Xiamen, will enable the second development phase of Egypt's power grid, which, according to the Egyptian government, should double its power generation capacity by 2022

The Egyptian Energy Minister Mohamed Shaker has signed a one billion dollar deal with China’s energy company State Grid Corporation and China Electric Power Equipment and Technology, for the second development phase of Egypt’s national power grid. According to Egypt’s Minister for International Cooperation, who made the announcement, the framework agreement was signed on the sidelines of the summit of BRIC countries (Brazil, Russia, India, China, and South Africa) being held in the Chinese coastal city of Xiamen. Egypt had signed a previous agreement with both Chinese companies three years ago to build a 1,210 km power grid as the first phase of the project. "The agreement - according to Energy Minister Shaker - aims to increase the capability of the national grid, including power production, transmission and distribution, in order to boost the efficiency of the service." The Egyptian government plans to double its electric power generation capacity by 2022 by constructing new electric power plants and developing existing ones.