STORY: Egypt, EU sign investment deals worth billions of USD
SHOOTING TIME: June 30, 2024
DATELINE: July 1, 2024
LENGTH: 00:01:17
LOCATION: Cairo
CATEGORY: POLITICS

SHOTLIST:
1. various of Egyptian President Abdel-Fattah al-Sisi receiving European Commission President Ursula von der Leyen (courtesy of the Egyptian Presidency)
2. various of the roundtable meeting (courtesy of the Egyptian Presidency)

STORYLINE:

A two-day Egyptian-European investment conference concluded in Cairo on Sunday, with both sides signing investment deals worth tens of billions of U.S. dollars.
   
On Sunday, on the sidelines of the Egypt-EU Investment Conference in Cairo, the Sovereign Fund of Egypt and the Suez Canal Economic Zone (SCZone) signed four agreements worth about 33 billion dollars in the field of green ammonia with European and other developers, the Egyptian cabinet announced in a statement.
   
The first deal, worth 11 billion dollars, was signed with German company DAI Infrastruktur GmbH, and the second, worth 4.25 billion dollars, was signed with India's Ocior Energy.
   
The third agreement, worth 3.46 billion dollars, was signed with an alliance of Egypt's TAQA Arabia and French company Voltalia, and the fourth, worth 14 billion dollars, was signed with Britain's BP, the United Arab Emirates' Masdar, Egypt's Hassan Allam Utilities, and Infinity Power, a joint venture of Egypt's Infinity and Masdar.
   
Waleid Gamaleldien, chairman of the SCZone General Authority, said during the signing ceremony that the deals reflect "the increasing interest of international companies to invest in Egypt, which confirms confidence in the Egyptian economy," according to the cabinet's statement.
   
The agreements were signed a day after European Commission President Ursula von der Leyen announced in her speech at the opening of the conference that European companies "are signing over 20 new deals or MoUs with Egyptian partners, which are worth over 40 billion euros (about 42.9 billion dollars)."

Xinhua News Agency correspondents reporting from Cairo.
(XHTV)