The announcement was made following a meeting between Egyptian Prime Minister Mostafa Madbouly and an Emirati delegation headed by UAE Minister of Industry and Advanced Technology Sultan Al-Jaber in the capital Cairo on Tuesday.

The meeting was also attended by Shaker and Egypt’s Minister of Communications and Information Technology Amr Talaat and Mohamed El-Ramahi, CEO of Abu Dhabi’s state-owned green energy firm Masdar and Khaled Salmeen, CEO of the Abu Dhabi’s state-owned oil company.

Shaker said the deal is set to be signed after the Eid Al-Adha holiday, which starts on Saturday, according to a statement by the Egyptian cabinet. The statement did not provide further details.

During the meeting, Al-Jaber was briefed on the results of recent consultations to implement the recently-signed trilateral initiative between Egypt, the UAE and Jordan.

In late May, the three countries signed the joint initiative of integrated industrial partnership for sustainable economic development in the Emirati capital of Abu Dhabi.

As part of the initiative, the UAE’s government allocated an investment fund of $10 billion for joint projects with Egypt and Jordan.

Al-Jaber said on Tuesday the first meeting of the trilateral partnership's higher committee is scheduled to be held later this month in Cairo, with the aim of following up on the projects that have been agreed upon.

Furthermore, Tuesday's meeting witnessed discussion on aspects of the proposed cooperation between the Egyptian ministry of communications and the UAE side in the field of establishing communication towers, and others, the statement added.

The Emirati delegation also met with President Abdel-Fattah El-Sisi Tuesday, who said Egypt looks forward to promoting cooperation with the UAE in all domains in a way that serves the interests of the two countries.

El-Sisi also said Egypt seeks to explore additional prospects for cooperation with the UAE in all areas, particularly in sectors where the both countries enjoy preferential advantages, read a statement by Egyptian Presidential Spokesman Bassam Rady.

The president welcomed boosting the size and scope of UAE investments in Egypt and lauded the progress achieved in the relations between the two countries across various levels.

In his meeting with El-Sisi, Al-Jaber praised the investment and trade climate in Egypt as conducive, highlighting "the comprehensive development process now underway in the country under the leadership of President El-Sisi," Rady added.

"This offers diverse opportunities for the UAE and foreign investments in the Middle East region and Africa in general," he assured, noting that the UAE is keen to strengthen frameworks of the strategic cooperation between the two countries across the various levels.

The meeting also tackled ways of enhancing bilateral cooperation in investments, IT, energy and communications, Rady noted.

The meeting also was attended by ministers Shaker and Talaat, and Chief of Egypt's General Intelligence Major General Abbas Kamel, in addition to Chairman of the Abu Dhabi Executive Affairs Authority Khaldoon Al-Mubarak.