Canadian, UAE companies to produce 3000 megawatts of electricity in Egypt

Canada's Ambassador to Egypt Troy Lulashnyk on Monday said Canada-based Sky Power and the UAE-based International Gulf Development (IGD) signed a cooperation protocol with the Egyptian government for $5 billion to provide 3000 MW of solar power to Egypt.

The project is expected to reach commercial operation in phases starting this year, the ambassador said in statements.

Once operational, these projects will create thousands of green jobs, industrial development, and associated economic benefits, he added.

Five hotel management agreements were also signed between Fairmont Raffles Hotels and Egypt's Citystars Properties with a total project investment at completion expected to be approximately $2 billion, the Canadian ambassador said.

Canada and Egypt have strong bilateral relations and Canadian companies are succeeding in different sectors of the Egyptian economy, he added.