Egypt’s government will introduce utilities to the new administrative city at a cost of LE2 billion, Kamal Fahmy, deputy head of the New Urban Communities Authority (NUCA), said on Sunday according to Reuters’ Aswat Masriya website.
An MOU was signed between Egypt’s ministry of housing and UAE-based Capital City Partners Limited to build a new capital city east of Cairo during an economic conference held last month to attract foreign investors into an economy battered by four years of political upheaval.
The cost includes water and electricity utilities, while Orasqualia Company, which is a joint venture (JV) between Orascom Construction Industries (OCI) and Aqualia, will undergo sanitation infrastructure.
The construction of the new administrative capital will consume 100,000 litres of water daily.
The total cost of the project has been estimated to be $45 billion, and should be completed in five to ten years.
The new capital project is expected to cover an area of 700 square kilometres and create around 1.75 million permanent jobs, according to its website.
Source: Ahram Online