Cairo and Beijing have a signed an agreement to research and execute up to 18 projects in Egypt.

The agreement was finalised during the G20-Ministerial Committee meeting that was held on 11 July in Beijing.

The Chinese will develop projects across a number of sectors including utilities, transportation, housing, manufacturing and technology.

Projects include a textile, electronics manufacturing, animal fodder, and flat glass factory as well as a plan to build a phosphate complex in New Wadi.

Other plans include updating and increasing the quality of the Egyptian electricity transmission network and building two new coal-powered electricity generators in Al-Hamrawayn.

China also approved plans to establishing a textile city and the building governmental facilities in the New Administrative Capital. They also agreed to develop Ain Sokhna port.

Chinese investments have been a welcomed addition to a growing portfolio of GCC funds, international financial institution support and foreign direct investment Egypt needs to start implementing the ambitious plans laid out last year.