France eyes partaking in Egypt’s new capital city project

A delegation of French businessmen and representatives of companies operating in construction, financial institutions and consultancy sectors have discussed Monday with Egyptian Housing Minister Moustafa Madbouli the available investments in Egypt.

The Egyptian minister meeting with the French delegation was on the sidelines of the French President François Hollande’s 2-day visit to Egypt.

Madbouli said the delegation had expresses keenness to know more about the development projects and available investment opportunities offered by the Egyptian government, notably the new administrative capital city, New Alamein city and East Port Said projects.

He said the consultancy firm representatives are willing to participate in designing the Egyptian new administrative capital city. Additionally, the French financial institutions representatives expressed keenness in granting the necessary loans to Egypt’s state-run New Urban Communities Authority to fund the establishment of various projects.

Among the delegation, there were representative of companies working in water networks and sanitation who offer to participate in establishing triple wastewater treatment plants.

At the end of the meeting, the two parties agree to organise workshops to discuss bilateral cooperation and projects.