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FinancialNews


  • 06-06-20

    Egypt intends to devote 307.9M USD in New Mansoura

    (MENAFN)

    Egypt intends to invest around 5 billion Egyptian pounds (307.9 million U.S. dollars) in New Mansoura City, 128km (79.5 miles) north of Cairo in the Nile Delta, within the 2019/2020 fiscal year.

    The country also pursues to upsurge New Mansoura City's investments to about 6 billion pounds (369.79 million U.S. dollars) within the new fiscal year, head of the New Damietta City Development Authority Mohamed Ragab told Amwal Al Ghad on Thursday, June 4th.

    Ragab stated that "it is expected to allocate around 6 billion pounds to implement seawater desalination and power plants as well as utilization works in New Mansoura."

    In August 2017, Egyptian President Abdel Fattah al-Sisi issued a decree to found a new city in Mansoura.

    MENAFN0606202000450000ID1100281188

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