Misr Concrete executes 500M pounds-water network in New Heliopolis

Misr Concrete Development Company is implementing a water network in New Heliopolis city with cost worth 500 million Egyptian pounds (US$27.6 million) as a part of its scheme for developing infrastructure.

Misr Concrete targets developing the city within the next years in cooperation with Egypt’s Heliopolis Company for Housing and Development (HELI), Khaled El Marasy, HELI vice-chairman, told Awal Al Ghad Sunday.

This network aims to convert the main water lines from the north of Heliopolis city to the south as well as carrying out city’s infrastructure in order to execute the construction works, El Marasy stated.

El Marasy noted that it is scheduled to conclude the 655 feddans-project at the end of 2017.

The Egyptian official further added that there are three types of current utilisation works in New Heliopolis including drinking water lines, sewage treatment stations, and two electricity plants.

El Marasy clarified that New Heliopolis City project will be developed in partnership with Egypt’s property developer SODIC with return on investment estimated at 10 billion Egyptian pounds.

SODIC plans to launch its plan and mandate housing works within the next months, the official concluded.