Egypt to start work on $2.4-bln telecom network for first phase of new capital city

Author: 
Reuters
ID: 
1568219504701666900
Wed, 2019-09-11 16:12

CAIRO: Egypt’s communications ministry will begin work on a 40
billion Egyptian pound ($2.44 billion) telecommunications network
in the first phase of a new capital city being built east of Cairo,
a cabinet statement said on Wednesday.
The communications ministry signed a cooperation agreement with the
Administrative Capital for Urban Development (ACUD,) the new
capital’s owner and developer, to begin working on the network
over a period of six months.
The new city, known for now as the New Administrative Capital, is
eventually expected to cover about 700 square km.
The first phase, covering about 168 square km, will have
ministries, residential neighborhoods, a diplomatic quarter and a
financial district. A large mosque and cathedral, as well a hotel
and conference center, have already been built.
Ahmed Zaki Abdeen, a retired general who heads the company building
the new city, said that ACUD would provide the funding for the
network.
Egypt’s government wants to start running the nation from the new
capital in the desert from mid-2020.
($1 = 16.3700 Egyptian pounds)

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Egypt to start work on .4-bln telecom network for first phase of new capital city