CAIRO:Egypt signed several Memoranda of Understandings (MoUs) with Chinese partners concerning the establishment of Egypt’s new administrative capital city and sanitation projects, according to the housing ministry statement Sunday.
Housing Minister Mostafa Madbouly has attended the signing ceremony to create an Egyptian-Chinese construction alliance tasked with building the new capital city.
Chairman of the Arab Contractors Co. Mohsen Salah, Chairman of the Petroleum Projects & Technical Consultations Co. (Petrojet) Mohamed Al Shemy represented the Egyptian side in the MoU signed with China State Construction Engineering Corporation (CSCES.)
The alliance has been tasked to start building the new capital city’s governmental district that includes ministerial headquarters, public service institutions, halls for international conferences, 15,000 housing units, Public Park, and buildings for embassies on an area of land of 10,500 cares locate on Cairo-Suez Desert Road.
In October, President Abdel Fatah al-Sisi said that the first phase of the new administrative capital project should be completed in two years. The ambitious urban planning project was announced in March at the Egypt Economic Development Conference. The total timeline for the project was estimated at between 5 to 7 years, with a price tag of $45 billion.
The ministry also signed with the CSCES another MoU, per which Egypt will get a soft loan from a Chinese bank to provide sanitation services to a total of 1,077 villages in Upper Egyptian governoartes of Fayoum, Beni Suef, Minya, Asyut, Sohag, Qena, Luxor and Aswan, the statement added.
Madbouly announced in the statement that Chinese President Xi Jinping will visit Egypt soon as he will attend the signature of final contracts between the Ministry and the Chinese company.