Balanced News: Egypt signs $1.6 billion deals with China, EU companies to develop sea ports

Egypt has signed agreements worth $1.6 billion with Chinese and European companies to develop its ports. The deals come as the government is seeking to use its ports to boost the economy. The agreements involve development of the Dekheila Port near Alexandria and the Sokhna Port in the Red Sea. The purpose of both agreements is to establish a container axis between the Red and Mediterranean seas.