Telecom Egypt to begin working on EGP 40 bn new capital IT network

Telecom Egypt (TE) will begin working on a EGP 40 bn (c. USD 2.4 bn) project to develop a telecommunications network in the new administrative capital, cabinet said in a statement. TE will build and operate the city’s tech and digital security infrastructure under an agreement signed between the state-owned landline monopoly and the New Administrative Capital Company for Urban Development (NACCUD).