Egypt, China ink agreements promoting clean energy, industries

CAIRO, Oct 17 (KUNA) -- Egypt and China inked Tuesday several framework agreements and Memorandums of Understanding worth approximately USD 14.75 billion, aiming to promote use of new energy sources and reinvigorate industries in Suez Canal Economic Zone.

The signing took place during Egyptian Prime Minister Mustafa Madbouly's participation in the third Belt and Road Forum for International Cooperation in Chinese capital of Beijing, on behalf of President Abdulfattah Al-Sisi, mentioned premiership in a statement.
The agreements, read the statement, set out to replenish job market via creating hundreds of opportunities as well as stimulating investments in the area.
Prime Minister Madbouly touched on Egypt's expansion of green energy projects saying that the Economic Zone is perhaps on the most significant green energy production centers in the Middle East and Africa.
Zone Director Waleed Jamaluddine stated that they are currently working on accelerating production pace to address global demands, in line with strategy aiming to attract investments in clean energy.
Jamaluddine stated that even more projects are in the works, including establishment of another industrial zone alongside one in Sokhna.
Egypt is one of the countries located on the Silk Road; a route connecting China to the Middle East and Africa by both land and sea. (end) asm.aai.