President Abdel Fattah El Sisi held a meeting with Chairman of Saudi-based ACWA Power, a power plants operator and developer, Mohammad Abunayan in the presence of Electricity Minister Mohamed Shaker on Thursday.

The meeting took up steps taken to put into force a memo of understanding signed during the Egypt Economic Development Conference (EEDC) in March on establishing power generation stations in Egypt, presidential spokesman Alaa Youssef said.

Abunayan said the company management was keen to help provide Egypt's energy needs in light of the Saudi leadership's directives to support the comprehensive development process in Egypt.

President Sisi said Saudi investments are always welcome in Egypt.