El Sewedy Education to build Egypt new capital’s university project

Egypt’s El Sewedy Education Company signed on Monday a partnership agreement with the British Coventry University to establish a university in Egyptian New Administrative Capital.

The Egyptian firm has earmarked around 6 billion pounds to 7 billion pounds in investments for setting up its first project, the Knowledge International Hub, its chairman said.

The university will be established in ten-year timeframe and will be financed by the company, through credit facilities from some of the local banks, Ahmed Elsewedy further added

The company is currently in talks with a number of local lenders, El Sewedy said, adding that the project’s first phase is set to be executed next September.

The new capital’s university will embrace up to 15,000 students within 2028, he noted.

For his part, the project’s manager Hani Zaki said almost 27 percent of the university’s construction works was completed.

The first phase of the project spans 27,000 metres, Zaki said.