Back to the complete issue
Sunday, 14 January 2018

CSCEC invests USD 3 bn in development of business district in new capital

CSCEC invests USD 3 bn in development of business district in new capital: We finally appear to have a price tag for China State Construction Engineering Company’s (CSCEC) work in the new capital, as the company is putting in USD 3 bn in developing the business district. The construction giant’s area of development will also include the development of a 345-m tower (the tallest in Africa), said Housing Minister Moustafa Madbouly, according to Al Borsa. CSCEC had signed the contracts last October during the inauguration of the first phase development of the new capital after a troubled and prolonged negotiation period.

We still don’t have news about China Fortune Land Development Company’s expected USD 4 bn contract to develop an industrial zone of the new capital over the next five years. Reports had emerged that the company would sign for the projects last month.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.