China State Construction Engineering Corporation (CSCEC) is set to start working on Egypt's new administrative capital city by the beginning of April 2016, Minster of Housing Mostafa Madbouly said Tuesday. The minister made this comment during his visit to Bejin in a meeting with the Chinese company officials and the officials of The Export-Import Bank of China ("Exim Bank) and Industrial and Commercial Bank of China (ICBC) to discuss the financial conditions to implement the Chinese projects in Egypt. In January 2016, An Egyptian-Chinese alliance was formed between Chairman of the Arab Contractors company Mohsen Salah, Chairman of Petrojet Mohamed Al-Sheimy, and Vice President of China State Construction Engineering Corporation (CSCEC) to implement projects for the New Administrative Capital. The alliance will construct the new cabinet's building along with 12 other ministerial buildings, starting with the Ministry of Housing. The alliance will also build a new convention centre, a fairground, and 15,000 residential units for low and middle income citizens. During the meeting, the minister has discussed the financial district project with CSCEC officials. In addition, Madbouli would visit Yujiapu Financial District that was built by CSCEC.
