Egypt's El Mostakbal for Urban Development will build a wastewater treatment plant in its flagship Mostakbal City at investment cost of 1.3 billion Egyptian pounds ($74.3 million), its chairman announced on Tuesday. The anticipated plant will be with total capacity of 240,000 cubic metres per day geared to fill the project's water needs to irrigate green spaces, Essam Nassif, El Mostakbal chairman, told Amwal Al Ghad. Mostakbal City is the flagship and largest planned mixed-use development in Egypt's New Cairo district, being developed on an area of 45 million square metres consisting of five phases, where the roads and green areas represent 50 percent of the total area of the city. Nassif further said that the plant is set to provide irrigation water to Mostakbal City in addition to other neighboring projects as well. El Mostakbal is the master developer of Mostakbal City, in charge of preparing the master plan, urban planning, and design guidelines for the whole project, securing the governmental approvals, and implementing the main roads network along with main infrastructure networks. The company is set to incorporate sub-developers to be responsible for developing the different areas of the project according to the approved master plan and urban planning, and design guidelines. Founded in 2006, El Mostakbal for Urban Development is an Egyptian incorporated company in which major state-run banks and construction firm are main shareholders; Banque Misr, National Investment Bank, National Bank of Egypt, and Arab Contractors.
