September 5, 2017 / 8:58 AM / 2 years ago

Egypt signs memo with China on $739 million of funding for new train to capital, minister says

Egypt's President Abdel-Fattah el-Sisi attends the Dialogue of Emerging Market and Developing Countries in Xiamen in southeastern China's Fujian Province, Sept. 5, 2017. REUTERS/Mark Schiefelbein/Pool

CAIRO (Reuters) - Egypt signed on Tuesday a memo of understanding with China worth about $739 million for an electric train to a new capital the north African country is building, the Egyptian investment minister said.

Egypt also signed during President Abdel Fattah al-Sisi’s visit to China an agreement for funding worth $45 million for a satellite project, Minister Sahar Nasr said.

Reporting by Ehab Farouk; Writing by Arwa Gaballa; Editing by Larry King

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