Egypt and Alstom sign power deal

CAIRO - Egypt and the French engineering giant Alstom signed a 30-million-euro (34-million dollar) agreement here Sunday to boost electricity services in northern Egypt, the French embassy said.

By (AFP)

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Published: Mon 29 Sep 2003, 12:05 PM

Last updated: Wed 1 Apr 2015, 9:52 PM

The deal, signed in the presence of French Industry Minister Nicole Fontaine and Egyptian Electricity Minister Hassan Yunes, aims to boost service in the western Nile Delta, an embassy official said without providing details.

Alstom was saved from near-certain bankruptcy last week when its directors approved a state-backed 3.2-billion-euro (3.7-billion-dollar) rescue package that also found favor with European Union competition authorities.

Fontaine arrived in Cairo on Saturday for a three-day visit during which several agreements will be signed while she also holds talks with Prime Minister Atef Ebeid and several cabinet members.

She was scheduled to sign Tuesday a grant agreement for 20,000 tonnes of wheat to Egypt for next year, embassy spokesman Julien Chenivesse said. "Egypt gets 20 percent of its world food aid from France," he added.


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