Arab Contractors is to construct roads in the new Administrative Capital at a total investment cost of EGP 1.1 bn, company Chairman Mohsen Salah told Amwal El Ghad.
The company is currently commencing construction works in the residential neighborhoods and governmental office areas at a total cost of EGP 2.3 bn. Thus far, 44 residential buildings, each eight storeys high, have been finalized, according to the article.
Arab Contractors will also develop five neighborhoods in North of Suez Gulf at a total cost of EGP 40 mn, where the New Urban Communities Authority (NUCA) had earlier assigned tenders to the company, according to Al Borsa.
The tenders include developing electricity and lighting networks within the city, enhancing pavements and roads, developing existing rural sanitation projects and water treatment plants, as well as developing government offices and hospitals.
Construction works are expected to be completed by the end of 2017 and NUCA will finance 25% of the costs of the tenders in March, according to head of the City’s Authority Ahmed Ibrahim.