Dr. Mostafa Madbouly - Prime Minister, witnessed the signing of a cooperation protocol between the Arab Contractors Company and the China State Construction Engineering Corporation (CSCEC), establishing a joint venture between the two companies to implement projects in Egypt and Africa.
The cooperation protocol was signed by Eng. Hassan Mustafa Kamel – Senior Vice Chairman of the Arab Contractors Company, and Mr. Chang Weicai - Chairman of China State Construction Engineering Corporation (CSCEC) in Egypt, in the presence of Eng. Sherif El Sherbiny - Minister of Housing, Utilities and Urban Communities, Mr. Dong Jianguo –Chinese Vice Minister of Housing and Urban Rural Development, Dr. Abdel Khaleq Ibrahim - Assistant Minister of Housing, Utilities and Urban Communities for Technical Affairs, Eng. Hesham Sheta - Chairman of Income, the Chinese company’s agent in Egypt, and Eng. Heba Abu Elela - Vice Chairman of the Arab Contractors Company.
Following the signing, Dr. Mostafa Madbouly pointed out that the cooperation protocol signed today comes within the framework of efforts to support and strengthen the strategic relations and growing partnership between the Arab Republic of Egypt and the People's Republic of China in various fields and sectors, and to build on the significant momentum witnessed in Egyptian-Chinese relations during this period, which will enable us to move towards broader horizons of cooperation and coordination to achieve more common interests.
Eng. Sherif El Sherbiny referred to his recent visit to China, and that this protocol is part of the results of this successful visit, which witnessed the holding of numerous meetings with Chinese officials, and the introduction of the idea of cooperation between the China State Construction Engineering Corporation (CSCEC), which represents one of the largest entities in the world in construction, and the Arab Contractors Company, which is one of the arms of the Egyptian state in construction and has a long record of achievements in Egypt, the Middle East and Africa.
The Minister of Housing added that the idea was approved and welcomed by the Chairman of the China State Construction Engineering Corporation (CSCEC), and today we witness the signing of a cooperation protocol to establish a strong JV between the two companies to implement mega projects in Egypt and across Africa, open up various business areas and explore frameworks for cooperation between the two companies on new projects
The cooperation between the Arab Contractors and China State Construction Engineering Corporation (CSCEC), and the formation of the JV between the two companies, represents a significant opportunity for wide expansion across Africa to combine the efforts and shared resources of the two companies and leveraging their wide spectrum experience in this promising sector.