Sunday, September 10, 2017

Egypt, China sign agreements to fund electric train, SAT 2 projects

Al-Masry Al-Youm

EGYPT INDEPENDENT - September 5, 2017

President Abdel Fattah al-Sisi and his Chinese counterpart Xi Jinping signed two agreements on Tuesday, including the Memorandum of Understanding (MoU), to construct an $739 million electric train linking the 10th of Ramadan city with the new administrative capital in Al-Qahira Al Gadida.  The second technical and economic agreement is to grant Egypt $US 45 million for second remote sensing Earth observation satellite (SAT 2) built by the Russian RSC Energia, Minster of Investment and International co-operation, Dr Sahr Nasr, announced.  Nasr considered both projects as highly significant within the Egyptian 2030 vision, as they will provide numerous economic opportunities linking new urban cities with industrial zones and serve as research space projects.