Egypt’s NACCUD in talks with France’s EDF for electric systems in new capital

The New Administrative Capital Company for Urban Development (NACCUD) is in talks with Électricité de France (EDF) to sign a 10-year partnership to develop and manage the city’s electrical power system, NACCUD boss Ahmed Zaki Abdeen said, according to Amwal Al Ghad. Developing utilities in the new capital is estimated to come at a cost of EGP 4 bn. EDF will share revenues with the government for the 10-year period, following which a holding company will be set up to take charge. Separately, NACCUD has received requests from five companies, four of which are Arab and one Spanish, for land plots in the new capital under a profit-sharing framework, according to the local press.