Egypt and Turkey have clinched deals with China in sectors including renewable energy and water desalination, as the political leaders representing the countries attended the Shanghai Cooperation Organization Summit, which wrapped up on Monday in the northern Chinese port city of Tianjin.
More than 20 leaders convened at the SCO Summit, including those from China, India, Russia, Iran, Egypt, Turkey and Pakistan.
What happened: Egyptian Prime Minister Mostafa Madbouly met with Chinese businessmen on the sidelines of the event on Sunday, including Zhen Ni, chairman of China Energy Engineering Corporation, which announced plans to invest $1 billion in Egypt over the next five years, according to an Egyptian cabinet statement. The investments will go into water desalination and renewable energy projects. China Energy Engineering Corporation has implemented 14 projects in Egypt since launching operations there in 2009, with its regional headquarters in Cairo.
Another statement from Madbouly’s office on Monday said that China’s Jiangsu Fenghai New Energy Seawater Desalination Development Company is also considering bringing its renewable energy-powered desalination model to Egypt.
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