Electricity Minister Mohamed Shaker and German Economics and Energy Minister Sigmar Gabriel attended the signing of memos of understanding between Egypt and German engineering giant Siemens AG at a total investment cost of $10 billion.
The signing ceremony was held during the ongoing Egypt Economic Development Conference (EEDC) in Sharm El Sheikh on Saturday.
Under the memos, several power stations will be established.
Chairman of the Egyptian Electricity Holding Company Gaber Dessouki and Siemens AG member of the managing board Lisa Davis signed the memos.