Egypt and China signed a $45 million grant to implement the new satellite "Egypt Sat 2'' on Monday, according to an official statement by the Ministry of Investment and International Cooperation.
The agreement was signed by Sahar Nasr, Egypt's minister of investment and international cooperation, and the Chinese ambassador to Egypt, Song Aiguo.
Nasr spoke of the agreement as a sign of the good strategic relations between the two countries, while mentioning that the upcoming period will witness cooperation between the Ministry of Investment and International Cooperation and the Ministry of Higher Education and Scientific Research.
She also said that "developing the new satellite Egypt SAT-2 for the applications of remote sensing" aims to benefit from Chinese technology and experience, and help further Egypt’s progress on establishing the Egyptian Space Agency to make Egypt a regional and international centre for science and innovation.
Nasr also praised China for their several projects in Egypt, such as the Fish Collection and Integration Test Center, the Vocational Training Center in the economic area of Suez Canal, the Opera House project in Luxor, and the development of “stage one and two” online education, in addition to the other 1558 Chinese firms in various sectors.
She also said that she is looking forward to strengthening the relations between both nations and attracting more foreign direct investments (FDI) from China.
Khaled Abd-Elghaffar, Egypt's minister of higher education and scientific research, added that he appreciates Nasr's support for his ministry, and that this agreement is a result of their cooperation.
The project takes Egypt to a higher level in the field of scientific research, since this project will include training of Egyptians in China on remote sensing, Abd-Elghaffar added.
Aiguo said following the inking of the deal that the upcoming period will witness a development in Chinese investments in Egypt, and that he’s excited to share China’s experience and knowledge in manufacturing and operating satellites.
In January 2018, Egypt's president Abdel Fattah El-Sisi ratified a law establishing the country's first Egyptian space agency, aiming to develop and transfer space science and technology into Egypt.
The Egyptian president vowed utmost efforts by the government to advance Egypt’s status in the field of scientific research and innovation last March.