Egypts spends US$ 1.31 bn on Phase 1 of New El Alamein City project
Posted on 21st June 2019
According to *Tradearabia news report, Egypt has spent nearly E£22 billion ($1.31 billion) on the Phase One of its ambitious New El Alamein City project since last June, excluding the costs of sewage, water, and wastewater treatment plants, said a report.
One of the new generation millennium cities coming up on the North Coast, the New El Alamein City is spread over a sprawling 202 million sq m area.
Some of the projects in Phase One are likely to be opened this month, while the majority of them will be inaugurated in mid-2020, stated Ghany in a statement to Egyptian Businessmen's Association (EBA), reported Mubasher, citing New Alamein Government Office Chairman Osama Abdul Ghany.
The first phase of the project covers an area of 24,000 acres, while both the second and third phases are over 12,000 acres, said the report.
It is being designed to accommodate more than 3 million inhabitants by the end of the Phase One, it added.
*News source: http://tradearabia.com/news/CONS_355781.html
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