Egypt's Prime Minister Mostafa Madbouly on Thursday discussed activating a $7.5bn (R132.52bn) "partnership package" with his Qatari counterpart, Egypt's cabinet said in a statement.
Egypt and Qatar had agreed in April to work towards a package of direct Qatari investments as Cairo pushes to secure funding from Gulf neighbours to tackle heavy foreign debts and a gaping budget deficit.
"Specific projects will be announced in coming weeks," Egypt's foreign minister Badr Abdelatty said at a joint press conference with Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, who is visiting Egypt.
Last year Egypt signed a $35bn (R618.45bn) deal with the United Arab Emirates (UAE) to develop a city at Ras El Hekma on Egypt's north coast, which provided a crucial injection of funds for Cairo.
The latest announcement comes after Egypt signed a $220m (R3.89bn) contract on Wednesday with investors from the UAE, Bahrain and China to build an integrated complex for producing solar cells, panels and energy storage systems in the Suez Canal Economic Zone, the cabinet said.
The facility will have the capacity to produce two gigawatts of solar cells and two gigawatts of solar panels, it said.
Reuters
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