China Railway Group signs agreement with Egypt

31 January 2016

Firm inks deal with government for work on capital city project

China Railway Group (CREC) has signed a memorandum of understanding (MoU) with the Egyptian government to implement two projects in the new administrative capital city.

CREC will carry out work on six government buildings and an Olympic park in the new capital city, according to local reports quoting housing minister Mostafa Madbouly.

Madbouly signed the MoU on 27 January with CREC’s director for the Middle East.

The company will construct the government buildings on an area spanning 214,000 square metres.

Under the terms of the agreement, the Chinese firm must submit initial designs within three months.

Once construction work starts, the scheme is expected to be completed within 30 months.

On 2 September 2015, Egypt’s investment minister Ashraf Salman signed an MoU with China State Construction Engineering Corporation (CSCEC) for the contractor to take over part of the capital city project.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.