Chinese firm to build $6bn oil refinery in Egypt

Cairo – Mubasher: China State Construction Engineering Corporation has signed a $9.6 billion contract with Egyptian entities, including a $6.1 billion deal with an Egyptian firm to build an oil refinery in the North African nation.

The world’s largest construction company in terms of revenue has signed another contract worth $3.5 billion in Egypt, Reuters reported.

In a similar vein, a Chinese consortium that consists of Shanghai Electric and Dong Fang has signed a deal with Hassan Allam Sons to set up the coal-fired power plant of Hamrawein at a cost of $4.4 billion, according to Xinhua News Agency.

The Chinese news agency said that Egyptian electricity minister Mohamed Shaker has signed the contracts with the Chinese-alliance last Sunday on the sidelines of the Forum on China-Africa Cooperation held in Beijing.

On Sunday, president Abdul Fattah El-Sisi signed seven deals worth a combined $18.3 billion with his Chinese counterpart during his visit to China.

 

Mubasher Contribution Time: 04-Sep-2018 13:06 (GMT)
Mubasher Last Update Time: 04-Sep-2018 13:06 (GMT)