Mostafa Madbouly Presents New Capital Project at EEDCSource: www.export-egypt.com 3/14/2015, Location: Africa |
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Housing Minister Mostafa Madbouly presented during Egypt Economic Development Conference (EEDC) in Sharm El Sheikh the project of establishing a new administrative capital for Egypt.
The project is currently being drawn up by local and foreign experts, said Madbouly. It is one of the giant projects which were launched in 2014, he said. The plan will help Egypt cope up with the increase of population in the coming years. A well-studied site has been chosen for the new capital between Cairo and the Suez provinces, said the minister. The housing minister said the first stage of the project will cost $ 45 billion over five to seven years. |
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