CRBC to begin work on USD 350 mn Nuweiba terminal by end of March
The China Road and Bridge Corporation (CRBC) is planning to break ground on a USD 350 mn multipurpose terminal in Nuweiba by the end of March, Red Sea Ports Authority chief Hashem Abu Senna tells Al Borsa. The terminal is one of three projects for which the Transport Ministry signed a USD 1.35 bn agreement with CRBC in December. The company will also construct and operate new multipurpose terminals at the ports of Safaga and Sharm El Sheikh. CRBC will also be responsible for supplying the equipment for the projects, which will be carried out under a build-operate-transfer framework.
In other Chinese construction projects, the China State Construction Engineering Company (CSCEC) will design and build three stadiums for USD 90 as Egypt prepares to host the 2021 World Men’s Handball Championship, according to a Cabinet statement. The three multipurpose indoor stadiums will be built in Sharm El Sheikh, Hurghada, and Luxor’s New Thebes. The Sports Ministry and the New Urban Communities Authority will be responsible for feasibility and environment studies for the projects, while CSCEC will carry out design, engineering, and construction work.