DAILY STAR - Sep. 08, 2015
CAIRO: Egypt signed an agreement with a Chinese company on building
and financing part of a planned new administrative capital east of
Cairo, the investment minister told Reuters Monday.
The memorandum
of understanding calls for China State Construction Engineering
Corporation, also known as China Construction, to “study building and
financing” the administrative part of the new capital, which will
include ministries, government agencies and the president’s office.
Egypt had so far only highlighted the involvement of the UAE’s Capital
City Partners, which signed an initial agreement for the mega-project at
a March economic summit.
Egypt’s housing minister in June
acknowledged “complications” in contract negotiations with UAE
businessman Mohamed Alabbar, the founding partner of CCP.
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