Egypt signs deal with China to build Olympic park in new Capital
Egyptian Minister Mostafa Madbouly head of China Railway Construction Corporation Limited (CRCC) to construct two projects in the planned new Administrative Capital of Egypt - YOUM7
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CAIRO: Egypt’s Ministry of Housing signed Wednesday a contact with China Railway Construction Corporation Limited (CRCC) to construct two projects in the planned new Administrative Capital of Egypt, the ministry announced.

The first project will establish six governmental buildings in the government district on 214,000 square meters, while the second project will construct an Olympic park on 2000 meters squared in the new city, Egyptian Minister Mostafa Madbouly stated.

The minister noted that the Chinese company will conduct feasibility studies and blueprints for the two projects within three months, and the actual construction is estimated to take 30 months.

On Jan. 22, Egypt signed a deal with the Metallurgical Corporation of China (MCC) to build a theme park in the new administrative capital, as the company will be responsible for the design, finance and implementation of the city.

The ministry also signed Jan. 21 a deal with the China State Construction Engineering Corporation (CSCES) to establish certain projects in the capital city. The signing was attended by President Abdel Fatah al-Sisi and his Chinese counterpart Xi Jinping in Cairo’s Qobba Presidential Palace.

The ambitious capital 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.

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