Egypt’s leading construction company, Heliopolis Company for Housing and Development (HELI), starts implementing the first power plant in New Heliopolis City, its managing director khaled Marasi said Wednesday.
According to the utalisation plan of the first phase of New Heliopolis City, the company would establish two power plants. The first plant will be with total cost of 228 million Egyptian pounds and will be delivered by the end of 2016, Marasi added.
He told Amwal Al Ghad that his company has signed contract with National General Contracting & Supplies, an affiliate to the ministry of defence, to carry out the infrastructure works of the new city.
The new project, located in New Heliopolis district on a land owned by Heliopolis Company, is set to encompass more than 8,600units with expected investments returns of 10 billion Egyptian pounds.
Moreover, HELI is responsible for utilising the whole project with total cost that may exceed one billion Egyptian pounds.