{"id":604914,"date":"2018-12-17T04:23:13","date_gmt":"2018-12-17T04:23:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/egypt-china-talks-for-usd-20-bn-new-capital-project-monorail-financing-have-reportedly-fallen-through\/"},"modified":"2018-12-17T04:23:13","modified_gmt":"2018-12-17T04:23:13","slug":"egypt-china-talks-for-usd-20-bn-new-capital-project-monorail-financing-have-reportedly-fallen-through","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/17\/egypt-china-talks-for-usd-20-bn-new-capital-project-monorail-financing-have-reportedly-fallen-through\/","title":{"rendered":"Egypt-China talks for USD 20 bn new capital project, monorail financing have reportedly fallen through"},"content":{"rendered":"

<\/a> Egypt-China talks for a USD 20 bn project in the new capital have reached a deadlock <\/b>amid a fight over revenue sharing, officials told Bloomberg<\/a>. China Fortune Land Development (CFLD) had been in talks with Egypt for the past two years to develop the large-scale project over a 25-year period in the new administrative capital. The newswire notes that the disappointing end of the two-year negotiations could affect sentiment among foreign investors, but we\u2019re not certain European and US investors will necessarily be put-off by the retreat of Chinese money. Local news had previously reported<\/a> that talks were stalled after CFLD demanded a larger-than-initially-agreed stake in the project.<\/p>\n

Other failed talks with China?<\/b> Bloomberg notes that the breakdown in talks doesn\u2019t mean Egypt will walk away from China (or even CFLD) on other projects. Still, it seems that talks with China\u2019s Exim Bank on financing for a USD 1.2 bn monorail project have also fallen through<\/b>, leading to its postponement, a transport ministry source told Al Shorouk<\/a>. The official said the project, which will aim to link the new capital to 6 October, will be put on ice until the two sides reach consensus. He did not provide details on the disagreements. Egypt last month<\/a> received three bids from international companies to construct two high-speed monorail lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt-China talks for a USD 20 bn project in the new capital have reached a deadlock amid a fight over revenue sharing, officials told Bloomberg. China Fortune Land Development (CFLD) had been in talks with Egypt for the past two years to develop the large-scale project over a 25-year period in the new administrative capital. 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The collapse of Egypt\u2019s talks with China Fortune Land Development (CFLD) over the development of a USD 20 bn project in the new administrative capital \u201craises questions about Egypt\u2019s ability\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/12\/2527.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626728,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/10\/is-cfld-finally-going-to-sign-its-new-capital-development-contracts\/","url_meta":{"origin":604914,"position":2},"title":"Is CFLD finally going to sign its new capital development contracts?","author":"enterpriseam admin","date":"10 July 2018","format":false,"excerpt":"Is CFLD finally going to sign its new capital development contracts? The China Fortune Land Development Company is ironing out the final details of its contract to develop 15k feddans in phase one of the new administrative capital, Zaki Hashem & Partners Managing Partner Yasser Hashem tells Al Masry Al\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631603,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/22\/whats-happening-with-cflds-usd-13-4-bn-new-capital-contracts\/","url_meta":{"origin":604914,"position":3},"title":"What\u2019s happening with CFLD\u2019s USD 13.4 bn new capital contracts?","author":"enterpriseam admin","date":"22 March 2018","format":false,"excerpt":"What\u2019s happening with CFLD\u2019s USD 13.4 bn new capital contracts? Talks with China Fortune Land Development Company (CFLD) and the government over the contract to develop 14k feddans in phase one of the new administrative capital appear to be at a critical juncture. 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