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Global Times: Chinese firm finalizes deal for building huge business district in Egypt's new capital

The district includes a 345-meter high skyscraper, the would-be highest building in Africa, 12 business complexes,5 residential buildings and 2 hotels
12.10.17 | Interesting article at Global Times

China State Construction Engineering Corporation (CSCEC) finalized here on Wednesday a 3 billion-US dollar deal to build a massive Central Business District (CBD) in Egypt's new administrative capital, some 50 km east of Cairo.

The deal was signed by CSCEC Vice President Zheng Xuexuan and Egyptian Housing Minister Mostafa Madbouly, in the presence of Egyptian President Abdel-Fattah al-Sisi and Chinese Ambassador to Egypt Song Aiguo.

Under the deal, CSCEC will build the CBD on a total area of about half a square km. The district includes a 345-meter high skyscraper, the would-be highest building in Africa, 12 business complexes, five residential buildings and two hotels.

The whole project is scheduled to be finished within 43 months.

Song told Xinhua during the signing ceremony that the deal is important in three ways.

First, finalizing the deal, whose initial signing was witnessed by Chinese President Xi Jinping and Sisi during Xi's first state visit to Egypt in January 2016, manifests the depth of the China-Egypt cooperation.

Second, it is part of the China-Egypt cooperation within the framework of China's Belt and Road Initiative.

Third, the project has symbolic significance as it will be a long-lasting sign of the China-Egypt friendship for next generations to come.