The Chinese construction firm CSCEC will start drilling work on the site of Egypt's new administrative capital in early April, said Housing Minister Mostafa Madbouli on Monday.
The government signed contracts with CSCEC for 12 buildings, including ministry headquarters, the cabinet and parliament headquarters, the main conference centre and the exhibition ground.
During a meeting in Beijing, Madbouli also discussed the establishment of a business district as part of the project, meeting with officials from CSCEC, CREC, Exim bank and ICBC bank.
ICBC bank is due to provide funding for the projects to be implemented by the CSCEC, with the loan procedures to be finalized within three months, said the minister.
Meanwhile, Exim Bank is to provide a soft loan to implement a number of sewage projects, especially in Upper Egypt.
On Tuesday, Madbouli met with the deputy Chinese housing minister and agreed to sign cooperation agreements between the two ministries on the latest sewage treatment systems and the development of slums.
Edited translation from Al-Masry Al-Youm