China’s Gezhouba reduces number of villages served in water treatment project on cost concerns

China’s Gezhouba Construction will implement USD 1 bn in water treatment projects in 200 Gharbiya and Menoufiya villages, Al Mal reports. The number of villages in the project has been reduced from 260 initially as cost overruns were taken into account after the EGP float. The project is funded by the Bank of China, with a loan carrying a maturity of 20 years and at an interest rate of 0.5%.