China, Egypt Sign $15 Billion in Deals as Xi Touts Development
- China Railway Group scores $1.1 billion rail contract
- Xi travels to Iran to wrap up three-country Middle East trip
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China and Egypt signed $15 billion worth of agreements before President Xi Jinping headed to Iran, where he will finish a Middle East trip aimed at boosting China’s diplomatic clout in one of the world’s most volatile regions.
China Railway Group Ltd. is part of a consortium of companies that won a rail project in Egypt worth $1.1 billion, while China State Construction Engineering Corp. signed a $2.7 billion contract to build a convention center, parliament and government offices, the two companies said in separate filings to the Shanghai stock exchange Friday.