Egypt, Italy to sign $540m deals during Sisi's visit

Egyptian Ambassador to Italy Amr Helmy said Egypt and Italy will sign five economic deals during President Abdel Fattah El Sisi's visit to the European nation.
These deals worth 540 million dollars, he said, adding they include channeling new investments of 100 million dollars into an auto component plant in Alexandria, the ambassador said.
He said the plant will export 70 percent of its production.
The current investments at the plant amount to 180 million dollars and would get a $100-mIn increase, Helmy said.
The envoy said Italy is paying great attention to Sisi's visit, adding ties binding Egypt and Italy witness a great development over the past three months.
He noted to an August visit to Egypt by the Italian Prime Minister.