January 3, 2016

The Minister of Housing Witnesses the Signing of MOUs with Chinese Companies for the New Capital Cairo

Dr. Moustafa Madboli– Minister of Housing, Utilities and Urban Communities witnesses the signing ofthe Memorandum of Understandings (MOUs) for the Egyptian Chinese Joint Ventureto execute the New Capital Cairo which signed by Eng. Mohsen Salah – AC Chairman,Eng. Mohammed El Shemi – Chairman of Petrojet and Vice Chairman of the Chinese Company"CSCES" – one of the biggest international contracting company. The Ministerof Housing signed 7 MOUs with the Vice Chairman of "CSCES" related tothe implementation of the New Capital Cairo and providing loan for thewastewater projects in the Upper Egypt governorates. The signing was in thepresence of the consulting offices' representatives which will carry out theproject.

The Minister ofHousing stated that the signed MOUs is going to be transformed into agreementsduring the visit of the Chinese President to Cairo soon after the negotiation withthe Chinese side regarding the project loan. Besides, there is a MOU with theChinese company to provide a soft loan for supplying wastewater to 1077villages in 8 governorates representing the Upper Egypt.

Eng. Mohsen saidthat the MOUs include that the Egyptian Chinese Joint Venture will carry outthe Cabinet Council and 12 ministries buildings starting with the Housing Ministrywhich will be transformed to the New Capital Cairo. Besides, the Joint Venturewill execute the big convention hall, building of the Exhibitions Land, 15thousands housing units for low and middle income. Eng. Salah pointed out that thesebuildings are among the project priority plan for the 1st phase ofthe New Capital Cairo which will be built upon 10500 feddans and will belaunched by President Sisi sooner. Eng. Randa El Menshawy – the 1stundersecretary of the Ministry of Housing and Supervisor of the loans andinternational credits for proving water to the villages declared that aftersigning the MOU that the total cost will be agreed upon after the completion ofthe detailed designing works and the actual estimate for the contract. Besides,she added that the 8 governorates which will benefit from the loan are: Fayoum –Bani Suief – Menia – Assiut – Sohag – Qena – Luxor – Aswan.

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