Egypt spends $368mln on utility projects in New Alamein City

Shokry Hussien

The authority will also launch new utility projects worth EGP 20 billion

Staff Writer, Arab Finance

PHOTO

Arab Finance: A total of EGP 18 billion has been spent on utility projects in New Alamein city, Head of New Alamein City Authority Ahmed Ibrahim told Asharq Business.

The authority will also launch new utility projects worth EGP 20 billion, Ibrahim said.

It is also reviewing requests for the allocation of 500 feddans in the New Alamein City to Egyptian real estate companies, he added.

Moreover, he referred to EGP 25 billion in investments in ongoing projects at the city’s industrial zone, pointing out that 2,400 feddans were allocated out of 5,500 feddans in the industrial zone to firms and developers.

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