El-Husseini pointed out that if the Chinese company desired to resume negotiations, the ACUD will insist on having 40% of the revenues. Meanwhile, Ahmed Zaki Abdeen, chairperson of ACUD, told Daily News Egypt that his company is currently in talks with other companies, some of them are Korean and others are Chinese, to develop the CBD. The Chinese Embassy in Egypt said that Chinese companies participating in the construction of the New Administrative Capital are progressing smoothly. “China supports competent Chinese companies to participate in various aspects of cooperation including the construction of the new capital. Chinese companies affirmed the improvement of Egypt’s investment environment and they aim to have a brighter future in the country, according to the embassy.

Source: Daily News Egypt December 20, 2018 06:48 UTC