BEIJING, Aug 30 (MENA) – Prime Minister Mostafa Madbouly expressed his pride in the comprehensive strategic partnership between Egypt and China, as well as the mutual support between the two countries on various issues, including economic cooperation and joint investments.
He stressed the importance of increasing the volume of Chinese investments, particularly through major Chinese companies such as TBEA.
Madbouly’s remarks came at a meeting on Saturday with Zhang Xin, Chairman of TBEA, a company specialized in energy engineering and the manufacturing of electrical equipment.
The meeting took place on the sidelines of the prime minister’s participation, on behalf of President Abdel Fattah al-Sisi, in the “Shanghai Cooperation Organization” (SCO+) summit held in Tianjin, China.
Madbouly said Egypt gives special priority to new and renewable energy projects, as well as to the localization of industries related to renewable energy components – especially solar and wind energy.
He expressed the government’s interest in enhancing coordination and cooperation with TBEA, and in benefiting from the company’s expertise and capabilities, in line with Egypt’s vision to increase the share of renewable energy in the national energy mix to 42% by 2030.
Madbouly also praised the progress in the relationship between the two sides and the success of TBEA’s projects in Egypt.
During the meeting, the Chinese official reviewed the company’s experience in the field of renewable energy.
He further pointed out that TBEA’s investments and projects in Egypt exceed $300 million.
The chairman also expressed his hope that the prime minister and his accompanying delegation would visit the company’s headquarters in Tianjin to see the scale of its operations and gain a closer look at its working mechanisms. (MENA)