Signing ceremony of the Arab Contractors Company and China State Construction Engineering Corporation (CSCEC). Photo by Egyptian cabinet.
Prime Minister Mostafa Madbouly witnessed the protocol's signing. He described it as part of ongoing efforts to deepen strategic relations and strengthen the growing partnership between Egypt and China across various sectors.
Key officials from both sides attended the signing ceremony.
Egyptian Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, noted that the protocol was one of the crucial outcomes of his recent visit to China.
El-Sherbiny said he had held extensive meetings with Chinese officials to discuss collaboration between CSCEC—one of the world's largest construction companies—and the Arab Contractors, a leading construction firm in Egypt, the Middle East, and Africa.
"The cooperation will focus on delivering large-scale projects within Egypt and across Africa, opening new fields of work, and exploring frameworks for future cooperation," he added.
This agreement came as Egypt and China prepared for President Xi Jinping's anticipated visit to Egypt. It also follows a high-level meeting between PM Madbouly and senior Chinese official Li Shulei.
The visit is expected to mark a significant step forward in cooperation between Egypt and China.
The agreement between CSCEC and Arab Contractors allows the two companies to leverage their combined resources and expertise to expand their footprint in Africa's promising construction sector.
The new alliance also comes as China expands its investments in Egypt. According to the General Authority for Investment and Free Zones (GAFI), over 2,800 Chinese companies operate in Egypt in multiple sectors with investments exceeding $8 billion.
The Arab Contractors is a state-owned leader in the construction sector in the Middle East and Africa that executes major infrastructure and transportation projects.
CSCEC was ranked the world's top construction company by revenue in 2020 and eighth globally in overseas contracting. In Egypt, CSCEC is building the Central Business District in the New Administrative Capital — home to Africa's tallest tower — and the Downtown Towers project in New Alamein City.
Egypt and China have a decade-long strategic partnership, aligning with Egypt's Vision 2030 and China's Belt and Road Initiative. The two countries collaborate mainly in industrial investment, joint infrastructure projects, and technology transfer.
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