Egypt’s President, Abdel Fattah al-Sissi ended his Asian tour on a good note. After the $17.7 billion of investment it obtained from Japan on February 29, the head of state obtained another $3.6 billion commitment from his South Korean counterpart during his visit to her nation from March 3 to March 5.
Agreements related to the South Korean investments in Egypt were signed by al-Sissi and President Park Geun-hye at a bilateral economic summit held in Seoul. According to a statement published by South Korean presidency, these agreements include infrastructure projects such as the construction of the Cairo subway and enlarging Canal of Suez.
On its official website, Egypt’s government revealed that the South Korean construction company Doosan Group would build a charcoal-powered power station in the Matrouh region in the North West while Hyundai and Daewoo will handle the expansion of national power supply network.
The Egyptian President started on February 29 a tour in Asia, passing first by Kazkhstan, then Japan and ended in South Korea. The tour comes at a time when Egypt struggles to restart its economy which suffers plunging tourism and lowering investment, subsequent to the overthrowing of Hosni Mubarak in 2011.
• UAC of Nigeria acquired CHI Limited, known for Chivita juices and Hollandia dairy, from Coca-Cola ...
Senegal’s attempt to diversify its fuel supply by turning to Nigerian crude is bumping up against ha...
• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.• Talks focused on jo...
• Nestlé, NGOs urge against delay, propose grace period instead• EU cites technical hurdles, trading...
Côte d’Ivoire traced 40% of cocoa for 2024/25 season Most cocoa remains untracked due to info...
DRC to launch national AI academy under 2026-2030 digital plan Academy to train experts, promote Afro-centric, ethical AI use Aims to boost...
Algeria to build two pipelines using local expertise only $60B energy plan aims to boost refining, cut imports Foreign firms still vital in...
Nigeria lost $3.3B oil to theft, vandalism in 2023-2024 NEITI to launch ownership register, track oil cargoes in real-time Reforms aim...
The country is negotiating to ease the 30% tariffs imposed by Washington in August. The U.S. is South Africa’s second-largest trade partner...
African countries prepare to celebrate Intangible Cultural Heritage Day Planned events spotlight traditions, rituals, and cultural...
The Cape Floral Region is one of the world’s biodiversity hotspots and a source of ecological pride for South Africa. Located in the southwestern part of...