September 19, 2008: Egypt will establish a nanotechnology center, the first one in the Arab countries and North Africa, with the help of IBM, the official MENA news agency reported Thursday.
The US-based technology giant will help build the nanotech center for educational, research and industrial purposes, according to a deal signed Thursday by Egyptian Ministry of Communications and Ministry of Higher Education with IBM.
The first phase of the deal will be implemented in three years as of January 2009, with about US $30 million of investments, the report said.
Samuel Palmisano, the current board chairman and CEO of IBM, is in Egypt to discuss the project. He met with Egyptian Prime Minister Ahmed Nazef on Thursday and they witnessed the inking ceremony after the meeting.
The agreement came as part of Egypt’s plan to upgrade its science and technology system.