(Nanowerk News) Egypt will establish a nanotechnology center, the first one in the Arab countries and North Africa, with the help of the International Business Machines Corporation (IBM), the official MENA news agency reported Thursday.
The U.S.-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 30 million U.S. dollars of investments, the report said.
Samuel Palmisano, the current board chairman and CEO of IBM, is in Egypt for discussing 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.
Since the 1950s, scientists have studied the movement and characteristics of particles at the nanometer scale, which is one billionth of one meter. Their discoveries have led to technological breakthroughs in material manufacturing.
It has the potential to create many new materials and devices with a variety of applications, such as in medicine, electronics, and energy production.
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