The first phase of construction of Egypt’s new capital city kicked off on Saturday, announced Minister of Housing Moustafa Madbouly. “Four construction companies have been mandated to implement the infrastructure of the new capital,” said Madbouly according to MENA news agency. Up to 1.5 million new job opportunities will arise as a result of the construction of the first phase of Egypt’s new capital city, revealed Mohsen Salah, the head of Arab Contractors in an interview with Youm7 in February. Construction of Egypt’s new capital city is reportedly being carried out by an Egyptian-Chinese alliance which includes Arab Contractors, the Petroleum Projects and Technical Consultations Company, and the China State Construction Engineering Corporation. However, the Housing Minister said that Egypt will be accepting bids for private companies to take part in the first phase of construction. The Minister also said that Chinese companies will be providing Egyptian contractors with loans to finance the construction of a number of buildings in the new capital city, including 14 new government buildings and a major conference center. China’s involvement came after Chinese President Xi Jinping visited Cairo to boost bilateral economic and political ties. During…
