Egypt, GE to sign cooperation protocol Saturday

CAIRO – 17 June 2017: A cooperation protocol between the Ministry of Transport and the American multinational corporation General Electric (GE) is scheduled to be signed Saturday.

The agreement will be witnessed by Prime Minister Sherif Ismail. Akhbar al-Youm news website said that the agreement will include providing 100 train engines to the Egyptian Railway system worth $575 million.

Later in May, Ismail met with the CEO of GE for North East Africa and discussed fields of bilateral cooperation.

The meeting included with a delegation of representatives of the GE Company, and the ministers of electricity, transport, international cooperation and investment.

The meeting aimed at discussing the company’s ideas to develop the railway lines and to improve the efficiency of services offered to citizens.

President Abdel Fatah al-Sisi met during his visit in Washington with the CEO of GE, Jeffrey Immelt, and discussed ways to further cooperate and develop Egypt’s energy and transportation sectors, and implement renewable energy projects. In April 2016, the president met with Immelt in Cairo where the latter expressed GE's willingness to expand its cooperation with the Egyptian government across a number of sectors.

“The president expressed the government’s willingness to improve the investment climate and invited GE to expand its projects in Egypt,” Youssef said in a statement.