Cairo – Mubasher: The New Urban Communities Authority (NUCA) has signed a memorandum of understanding (MoU) with the Chinese CGCOC Group Co to establish the first industrial zone in New Alamein city.
This step marks the beginning of establishing New Alamein city as it is deemed the new commercial and administrative capital of the North Coast, Egyptian housing minister Mostafa Madbouli said in a statement on Tuesday.
The board of NUCA has approved to provide investors with the required land plots in the industrial zone with several facilities, the minister added, giving no further details on the value of the megaproject.
CGCOC Group will coordinate with the Egyptian government to develop a sustainable green industrial zone New Alamein city that will be operated with renewable energy and water desalination utilities, Madbouli indicated.
