The New Urban Communities Authority (NUCA) signed a memorandum of understanding (MoU) with Chinese construction company CGCOC Group to establish the first industrial zone in the city of New Alamein.
Egypt’s minister of housing, Mostafa Madbouly, said in a press statement on Tuesday that the signing of the MoU is considered the beginning of establishing the city of New Alamein, considered the new commercial and administrative capital of the North Coast.
Earlier in March, President Abdel Fattah Al-Sisi laid the foundation stone for the new city in the presence of Prime Minister Sherif Ismail and a large number of ministers.
Madbouly added that the board of the New Urban Communities Authority (NUCA) approved providing the investors with the needed lands in the industrial zone, as well as facilities.
However, the minister did not disclose details about the megaproject’s value.
Madbouly stressed that the Egyptian government will work with the Chinese company to develop a fully sustainable green industrial zone in New Alamein.
“It is planned that New Alamein will be operated with renewable energy and water desalination utilities,” Madbouly assured.
According to the statement, CGCOC is one of the top 50 companies awarded by the Chinese Ministry of Commerce from 2006 to 2014 and one of the top 100 international contracting companies granted by Engineering News-Record from 2004 to 2014, respectively.
CGCOC is an international Chinese state-owned enterprise operating in the fields of consulting, investment, infrastructure construction, trade, and logistics. Its business covers more than 35 countries, mostly in Africa. Since its inception, it has participated in the drilling of wells, water supply, and sanitation, road and bridge construction, building and energy projects, manufacturing, real estate development, production and trade of chemical products, marine and inland services, mining, agriculture, and industrial development.