Construction work on track for Egypt's new capital
The new consortium will construct the cabinet building and 12 ministries, a conference hall, exhibition grounds and 15,000 affordable housing units
A memorandum of understanding (MoU) has been signed to establish a consortium of Egyptian-Chinese companies to carry out construction work in the country's new capital.
The consortium will include the Egyptian Arab Contractors; the Egyptian petroleum sector company Petrojet which will provide engineering, procurement and construction services; and the China State Construction Engineering Corporation (CSCEC).
The minister of housing also signed seven memoranda of understanding with CSCEC relating to the execution of projects in the new capital and the provision of loans for drainage projects in Upper Egypt.
"According to the memoranda, the new consortium will construct the cabinet building and 12 ministries, a grand conference hall, exhibition grounds and 15,000 units for middle- and low-income housing in the new capital," said the minister of housing to the local weekly, Al Ahram.
He added, "This will be part of plans for the first phase of the new capital, to be built on an areas of 4,410ha. The memoranda of understanding will be translated into contracts during the upcoming visit of the Chinese president to Egypt, scheduled for mid-January."