Egypt Gas to set up EGP 771m gas pipelines in New Administrative Capital

Cairo – Mubasher: Egypt Gas has signed a contract with the Administrative Capital for Urban Development Company to implement the natural gas pipeline network for the first phase of the New Administrative Capital at a total cost of EGP 771 million.

Scheduled to commence in 2018, the initial phase of the project will span approximately 40,000 acres, the company added in a statement to the Egyptian Exchange (EGX) on Tuesday.

In December, Egypt Gas signed a protocol of cooperation with the New Administrative Capital for Urban Development at a value of EGP 66.9 million.

During the Egypt Economic Development Conference (EEDC) held in March 2015, Egypt had announced the establishment of the New Administrative Capital at a total cost of EGP 45 billion to be paid within five to seven years.