Egypt to sign new agreements worth US$3.7bn with Italian companies

Egypt's Prime Minister Ibrahim Mahlab will sign three agreements with Italian companies, worth more than US $3.7 billion during his visit to Italy, said Chairman of the Egyptian Italian-Business Council Khaled Abu Bakr, according to daily business newspaper Al-Mal.
The first agreement will be signed between Egypt’s Ministry of Petroleum and Italian company Technip, to develop Assiut and Midor labs, at a cost of $3 billion, Abu Bakr added.
The second agreement, between the Egyptian Electricity Holding Company (EEHC) and Ansaldo, will be aimed at developing two electric power plants at a cost of $700 million.
The last one will be signed between Edison, TAQA, and Qalaa Holdings to generate electricity; the value of the contract has not been revealed yet, Abu Bakr said.
Prime Minister's visit to Italy, which began on Wednesday, will take three days, ending on Friday.

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