PRESS RELEASE

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Germany and Egypt Sign Several Billion-Euro Deals During el-Sisi’s Visit

June 3, 2015 (EIRNS)—Egyptian President Abdel Fattah el-Sisi arrived in Berlin today, meeting with Chancellor Angela Merkel—but even more important, to address a gathering of 180 German industrialists which will be also attended by 120 Egyptian entrepreneurs. The main subject there is German assistance in the crash development program for Egypt, which will require EU60 billion of investment. From Germany, one big deal for a huge gas power plant in Beni Suef, which will generate 4.4 gigawatts of electricity, will be signed today with Egypt. The project is to be carried out by Siemens. Flanking deals for power plants and transformer stations—altogether, including the Beni Suef project, worth about EU10 billion—will be signed as well.

Rainer Herret, director of the German-Arabian Chamber of Industry and Commerce in Cairo, is quoted by the German business daily Handelsblatt as saying that "solving the energy shortage will be a priority in the Egyptian economic policy;" however, there is also demand for German deliveries of facilities and technology for port, railroad, and urban infrastructure projects in Egypt.