Egyptian-Chinese consortium inks agreement to operate new capital’s business district: A consortium of China State Construction Engineering Corporation (CSCEC) subsidiary Umi Group and IGI Holding have signed an agreement with the New Urban Communities Authority to manage and operate the Central Business District in the New Administrative Capital, according to a Housing Ministry statement.

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The details: The agreement will see the consortium take over the operations of the district once construction is complete, Housing Minister Sherif El Sherbiny said in the statement. The consortium will focus on using local components and training local employees, and will apply “advanced technology based on artificial intelligence, energy monitoring and management, carbon emission tracking, and environmental sustainability standards.”

Remember: A total of 20 administrative, commercial, and residential towers are being built byCSCEC — the largest construction company in the world by revenue — including the 400-meter-tall Iconic Tower in the new capital.

New Alamein is well on its way to having a new skyscraper: CSCEC has finalized the structural framework of the Iconic Tower in New Alamein, according to a Housing Ministry statement, with CSCEC General Manager Wen Bing stating that the project “serves as the cornerstone and central development hub within this promising city.” The tower was built by Egyptian and Chinese teams under the supervision of the Housing Ministry, and boasts the largest concrete base ever poured in Africa, according to Wen.

A new Alamein industrial zone is also in the works: CSCEC is looking into setting up an industrial zone in New Alamein, according to a cabinet readout of a meeting between Wen and Prime Minister Moustafa Madbouly. The government is particularly interested in manufacturing EVs, renewable energy components, and construction materials in the area, Madbouly said, noting that with the many projects to develop the North Coast, which will require more construction materials.

The new capital’s medical city is still on the drawing board: Wen confirmed CSCEC’s commitment to establishing its planned medical city in the new capital as soon as possible in partnership with the Health Ministry. The project will be a part of China’s Belt and Road Initiative, Wen added.

Remember: The General Organization for Teaching Hospitals and Institutes recently inked an MoU with CSCEC to design and construct the new medical city, which is expected to house 18 specialized clinics with over 4.2k beds, research centers, central laboratories, a blood bank, and other services. The project comes as Egypt aims to position itself as a medical tourism destination.

The company’s Ain Sokhna factories are up and running: Wen also noted CSCEC’s completion and launch of steel structure and glass facade plants in Ain Sokhna, with plans to expand by acquiring additional land.

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