It's Make or Break for China's $20 Billion Egyptian Capital Plan
- After two years of talks, CFLD hands Egypt its latest proposal
- New city is one of several mega-projects launched by El-Sisi
Photographer: Shawn Baldwin/Bloomberg
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Chinese city-builder CFLD’s planned $20 billion project in Egypt’s new capital is at a critical juncture after nearly two years of tough negotiations.
Shanghai-listed China Fortune Land Development Co this month sent Egyptian authorities its latest proposal to develop 15,000 acres over 25 years in the administrative capital under construction to the east of Cairo. Egyptian officials said they were studying the offer, which would amount to one of the biggest foreign investments Egypt in recent years.