Top Japanese firms set to land deal to construct Egypt’s new city

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Egypt's new city

Top Japanese firms are set to land Egypt’s US$45 Billion city construction that will kick off in few months time.
According to the Egyptian government sources six Japanese firms are likely to implement Egypt’s new city project.
The country’s daily Amwal Alghad said that the deal between the government and the Japanese firms offer is currently on its preliminary stage as the negotiations between the UAE-based Emaar chairman Mohamed Alabbar failed.
According to the reports disclosed to Amwal Alghad the country’s president is closely considering the move to offer Japanese firms the deal that will see the companies start building up the administrative city.
Though the government recently issued a statement contradicting the sources that the deal they had with the UAE-based Emaar chairman Mohamed Alabbar has failed and said the deal is on.
Early last month it was suggested and it was in the public domain that the government was on the verge of a fall out with Mohamed Alabbar.
Currently the government of Egypt has already received preliminary offers from other companies from Saudi Arabia to carry out the project namely Joussour Company though the establishment of the new capital city hasn’t been actualized.
However, since neither the Saudi nor the Japanese companies’ offers are final or official, no definite decision will be taken in the meantime. This is also because the financial package for the project has not been disclosed yet.

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