During the meeting, held in Tianjin on the sidelines of the "Shanghai Cooperation Organization Plus" summit, China Energy Engineering Corporation Chairman Ni Chen thanked the Egyptian government for its support, citing successful energy projects his company has completed in Egypt.
Ni said the company, which operates in 147 countries and has
had an office in Cairo since 2009, is planning to invest $1 billion over the
next five years to make Egypt its regional hub. He added that the company is
considering entering the seawater desalination sector and is discussing
potential power generation partnerships with Egypt's Ministry of Electricity
and Renewable Energy.
The company intends to begin investing in seawater
desalination, in line with its efforts in green development and reducing carbon
emissions. It proposes cooperation in desalination, renewable energy, and
energy storage, confirming its goal to invest $1 billion over the next five
years to make Egypt its regional hub. Ni stated that discussions are underway regarding
joint ventures in power generation, and that the company is prepared to localize
technology used in this sector.
Madbouly praised the company's work, including its projects
in the New Administrative Capital. He stated that Egypt plans to generate 42%
of its energy from renewable sources by 2030 and wants to localize the
production of renewable energy components.
He said Egypt's annual demand for energy is between 5 and 6
gigawatts, in addition to its goal of exporting power to Europe. He assured Ni
that the government would offer incentives and support to facilitate the
company's projects.
Madbouly also noted that Egypt aims to increase its daily
desalinated water production from 1.4 million cubic meters to 10 million in the
next five years, with a long-term goal of reaching 30 million. He stressed the
importance of localizing the components for these desalination plants.
Ni reaffirmed his company's commitment to collaborating with Egypt on energy production, storage, and water desalination.