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Egypt's new administrative capital utilities to cost LE2 billion

The prospective new administrative capital is estimated to cost around $45 billion and would take five to ten years until completion

Ahram Online , Sunday 19 Apr 2015
egypts new capital city
A model of a planned new capital for Egypt is displayed for investors at the opening of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, about 550 km (342 miles) south of Cairo, March 13, 2015 (Photo: Reuters)
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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.

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Neo
20-04-2015 02:07am
0-
2+
The 4th Pyramid
Is this really the highest priority for a county with 50% poverty, 40% illiteracy, and 20% unemployment? Could we hold on to building the 4th Pyramid till we solve these urgent priorities? Let’s see what $45b can do for Egypt: (1) Food security: $20b + 2 million young farmers could solve our wheat and vegetable problems. (2) Energy: $20b + 1m young workers could build the largest solar industry, providing Egypt with green energy. (3) Education: $5b could build 5,000 modern schools across the country teaching religious tolerance and respect for human dignity. We can solve the country’s ills in 5 years, or we can build the 4th pyramid in 5-10 years! It’s all about priorities …
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