Egypt Emerges as China’s Africa Bulwark with $9.6 Billion in Deals
One of China’s leading infrastructure builders announced plans for two major projects in Egypt worth nearly $10 billion combined, marking one of the largest such investments under Beijing’s plan to export its building prowess to other developing nations.
The pair of deals will see China State Construction Engineering Corp. (CSCEC) build a $6.1 billion oil refining and petrochemical complex, as well as a $3.5 billion commercial area in a new Egyptian administrative capital being built about 50 kilometers (31 miles) from Cairo, CSCEC said in an announcement (link in Chinese) of the two deals.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas