CAIRO: The government has allocated 300 million EGP ($33.7 million) to establish a road network to connect New Cairo with the new Administrative Capital that is located on the Cairo-Suez Desert Road, Alaa Abdel-Aziz, head of New Cairo City Council, told Youm7 Thursday.
The amount of money has been allocated to three construction companies (the Arab Contractors, Orascom Construction, and General Nile Co. For Roads & Bridges Construction), Abdel-Aziz added.
In October 2015, President Abdel Fatah al-Sisi announced the first phase of establishing the new administrative capital aiming for completion within two years.
The first phase covers 10,500 feddans of land, and is to include the construction of ministries and other government buildings, a commercial center, 15,000 housing units, schools, a university complex and a medical city ,said Presidential Spokesperson Alaa Youssf in previous remarks.
Egypt signed a Memorandum of Understanding (MoU) with China in January to build the administrative capital city and sanitation projects. The deal was also signed by Egypt’s Arab Contractors Co., Egypt’s the Petroleum Projects & Technical Consultations Co. (Petrojet), and China State Construction Engineering Corporation (CSCES.).
The ambitious urban planning project was announced in March at the Egypt Economic Development Conference. The total timeline for the project is estimated to take 5 to 7 years, with a price tag of $45 billion.