Egyptian PM says business district in New Capital one of biggest Egypt-China joint projects

Egyptian Prime Minister Mostafa Madbouly said on Monday that the financial and business district in the New Administrative Capital is one of the biggest Egyptian-Chinese joint ventures, official MENA news agency reported.

It represents a quantum leap forward to a new stage of civilization in the heart of the New Administrative Capital, Madbouly said while touring the New Capital's financial district, which is being constructed by China State Construction Engineering Corporation (CSCEC).

"The first phase of the project is carried out on 2.7 million square meters involving green areas and garages as well," the minister added.

CSCEC is currently working on the construction of a huge central business district at Egypt's under-construction new administrative capital city, some 50 km east of the capital Cairo.

Madbouly said the project includes 20 towers and skyscrapers that offer thousands of jobs.

Among them is the 385-meter iconic skyscraper, the highest in Africa, he said.

The construction work at the business district, which has started in 2018, will be finished within 3.5 years, the CSCEC's chief executive officer told Xinhua in a previous interview.