France’s EDF signs 15-year deal to run Egypt new capital’s power grid
Egypt’s state-run New Administrative Capital Company for Urban Development (ACUD) on Thursday signed a 15-year partnership with Électricité de France (EDF).
The deal will see state-run EDF developing and managing the electrical power system of Egypt’s new capital project, said ACUD’s chairman Ahmed Zaki Abdeen.
The French company will also sign a joint venture for electricity distribution in the new capital.
EDF will own a 49 percent stake in the new venture while ACUD will hold 51 percent.
Located 45km (28 miles) east of Cairo over 170,000 feddans, the under construction new capital city is part of the Egyptian government’s plan to expand urban areas to deal with the rapid population growth and improve the nation’s infrastructure.
The new city is set to be a 270-square-mile hub with 21 residential districts to accommodate five million people. It will feature 1,250 mosques and churches as well as 5,000-seat conference centre, nearly 2,000 schools and colleges, over 600 medical facilities, and a park that is projected to be the world’s largest.