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Thursday, 19 September 2019

Egypt to build $2.4 bln telecom network in New Administrative Capital: Cabinet

Ahram Online , Thursday 12 Sep 2019
New Administrative
File Photo: Construction labourers work at the future headquarters Ministry of electricity and Energy in the Government district of the New Administrative Capital (NAC) east of Cairo, Egypt May 2, 2019 (Photo: Reuters)
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Views: 2316

Egypt will build a EGP 40 billion ($2.44 billion) telecommunications network in the first phase of the new capital, located east of Cairo, the cabinet said in a statement on Wednesday.

State-owned telecom operator Telecom Egypt signed a deal with the Administrative Capital for Urban Development (ACUD), the company building the mega city, to build the network, expected to be completed in six months.

ACUD will finance the project, company head Ahmed Zaki Abdeen was quoted as saying in the statement.

The first phase of the New Administrative Capital comprises a government district, residential neighbourhoods, and a business district.

The government is planning to relocate ministries to the new capital by mid-2020.

The 700 square kilometre capital, launched in 2015 by President Abdel-Fattah El-Sisi, will house more than 6.5 million people.

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