The New Urban Communities Authority (NUCA) signed an MoU yesterday with Chinese construction firm CGCOC Group that will see them establish an industrial zone in New Alamein City, Al Masry Al Youm reports. Housing Minister Mostafa Madbouly said the project, whose investment value was not disclosed, would follow environmentally-friendly standards and rely on renewable energy sources.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
Why EGX stocks are going under the IPO wave
Fund managers are releasing liquidity for ongoing and future IPOs,…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…