The construction of the most anticipated new capital in Egypt has received much needed impetus after the country pumped more money to speed up its construction.
According to government officials A memorandum of understanding (MoU) was signed with Alabbar to build the new capital during the Egyptian Economic Development Conference (EEDC) in March 2015 in Sharm El-Sheikh, attended by President Abdel Fattah Al-Sisi and Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Mohammed bin Rashid Al-Maktoum.
Though various projects in the new city delayed to Kick off the due to lack of funds, the Egyptian government got some boost from the Chinese government for the project that is expected to take 5 years before completion.
The project which is on an area of 25,000 acres is expected to be the alternate for the over crowded Cairo.
The New Administrative Capital is expected to cost $300bn. It will include a new airport larger than London Heathrow Airport and a building that stands higher than the Eiffel Tower in Paris.
According to the cabinet report the contractors who were awarded to carry out various project in the news city have cached up in a full swing.
The officials also added that the government will be carrying a quarterly review to ensure that the project remains on track.
Egyptian public and private construction companies in the past five months have begun working on infrastructure projects and building the residential neighbourhood of the new capital. Furthermore, there are plans to establish a railway station within the first stage of the project’s implementation.
Early this week Egyptian Minister of Housing Mostafa Madbouly gave a visit to the site to ensure that the construction is ongoing well.
He said the government is committed towards ensuring that they get the city where its suppose to be in the next few years.
