Latest news with #CSCEC
Zawya
9 hours ago
- Business
- Zawya
Egypt signs $658mln construction deal for phosphoric acid project
Egypt has signed final contracts that will pave way the commencement of construction works on the $658 million Phosphoric Acid Complex Project in the Western Desert. This marks a major step in Egypt's push to shift from raw mineral exports to high-value industrial processing, the Petroleum and Mineral Resources Ministry said. The project is located at Abu Tartur Plateau in the New Valley Governorate and will use domestically sourced phosphate ore to produce 250,000 tonnes per year of high-grade phosphoric acid in its first phase. 'This is a historic move that will enable us to shift from exporting raw materials to launching an integrated industrial value chain,' Petroleum and Mineral Resources Minister Karim Badawy said 'It symbolises the third pillar of our strategy which outlines maximising returns from mineral wealth,' he added. The deal was signed with a Chinese consortium that comprises of China State Construction Engineering Corporation (CSCEC) and East China Engineering Science and Technology Co. (ECEC). According to Valley Governor Mohammed El-Zamlout, the project is a 'turning point' for the New Valley which is Egypt's largest governorate by area but has been overlooked in terms of industrial development. 'This project will be a key aspect in transforming the region into a strategic hub for mining-based industries,' he said. (Writing by Nadim Kawach; Editing by Anoop Menon) (
South China Morning Post
3 days ago
- Business
- South China Morning Post
Why Egypt is welcoming China with open arms instead of the US
Egypt has shifted its centre of gravity. China, not the United States, now anchors Cairo's foreign partnerships. Earlier this week, China and Egypt agreed to deepen cooperation in electric vehicles, electronics and artificial intelligence. Memorandums of understanding were signed to expand investment and support Chinese firms involved in infrastructure development. In one of the most revealing developments, China State Construction Engineering Corporation (CSCEC) and Egypt's Arab Contractors agreed on a deal to co-develop and manage major infrastructure projects, locking in a model of state-led expansion with China at its core. The agreement joins two construction giants that are both state-owned and dominant across their respective regions. This partnership will drive Egypt's infrastructure agenda and project influence across Africa. More than investment, it is a shared vehicle of state power, aligning Egypt's development model with China through coordinated ambition and long-term control. The groundwork for this shift was laid years earlier. CSCEC built and now operates the central business district of Egypt's New Administrative Capital – which is 85 per cent financed by Chinese lenders. The deal moves China from contractor to co-manager, embedded in the machinery of Egyptian state-building. The result is a model that constructs state capability without compromising autonomy. Egypt's bet is based on simple arithmetic: China delivers results without imposing conditions. Cairo is not a recipient but a co-architect, and it has chosen a partnership grounded in mutually beneficial terms. Beijing provides unmatched capital, engineering and execution capacity while Egypt retains direction and control. No lectures, no conditions, no strings attached.
Express Tribune
13-06-2025
- Business
- Express Tribune
Joy spread among orphans on Children's Day
In a touching display of goodwill, a Chinese company brought joy and hope to underprivileged children by donating essential supplies to an Islamabad orphanage, marking a special celebration of International Children's Day. The China State Construction Engineering Corporation Limited (CSCEC) Pakistan branch extended a helping hand to the Islamabad China-Pakistan One Heart Step and Cure Home (ICOSH), gifting items worth Rs2 million, including school supplies, daily necessities, sports equipment and electrical appliances. The contribution aims to enhance the living conditions and educational opportunities for children at the facility. Established in 2023 by the Beijing One Heart Sphere Charity Foundation and the China-Pakistan Youth Exchange Community (CPYEC), ICOSH initially focused on assisting critically ill Pakistani patients seeking medical treatment in the capital. Over time, it has expanded into a haven for disabled and seriously ill children, while also providing full-time care for 21 orphans, Gwadar Pro reported on Tuesday. Since its inception on May 28, 2023, ICOSH has supported over 130 orphans and children suffering from severe illnesses. The latest contribution from the Chinese company underscores the deepening friendship between China and Pakistan, reflecting the spirit of shared compassion and mutual support. The donation ceremony was attended by Yang Guangyuan, Minister Counsellor of the Chinese Embassy in Pakistan, who extended warm Children's Day greetings to the young residents. "It is an honour to participate in this meaningful initiative," said Yang. "We hope this event marks a new chapter in deepening China-Pakistan humanitarian cooperation and inspires more social forces to contribute to this noble cause." Addressing the event, Wang Yaodong, CEO of CSCEC Pakistan, highlighted the company's long-standing commitment to social responsibility alongside infrastructure development. Children at ICOSH also celebrated Children's Day with special activities, enjoying games and performances in a festive atmosphere.
&w=3840&q=100)
First Post
09-06-2025
- Business
- First Post
Egypt shifting its capital from Cairo to a new city that China is building for it
Egypt is relocating its capital from Cairo to a new desert city, built and now operated by China. The New Administrative Capital, part of China's Belt and Road Initiative, reflects deepening Sino-Egyptian ties and aims to ease congestion in Cairo while modernising governance infrastructure. read more Egypt is formally shifting its capital from Cairo to a newly built city in the desert with China playing a central role in its construction and future operations. Located around 45 kilometres east of Cairo, the new administrative capital spans 700 square kilometres and is envisioned to house more than six million people. The project is part of Egypt's long-term effort to decongest Cairo and reposition itself as a modern administrative and economic hub. STORY CONTINUES BELOW THIS AD According to South China Morning Post, the central business district (CBD) of this new capital is being developed by the China State Construction Engineering Corporation (CSCEC), a state-owned Chinese firm. The company recently signed a protocol to operate and maintain the CBD, further deepening China's involvement in Egypt's infrastructure strategy. The agreement includes responsibilities ranging from property management to delivering integrated urban services for residents, businesses and tourists. The cost of building the CBD, which features government ministries, a presidential palace, parliament, foreign embassies, and high-end commercial infrastructure, is estimated at US$3.8 billion. Among its standout features is the Iconic Tower—Africa's tallest skyscraper at 385.8 metres, alongside ten office towers, five residential buildings, and four luxury hotels. The move also aligns with Beijing's Belt and Road Initiative, with Egypt serving as a strategic node linking Africa and the Middle East. China's presence in Egypt is expanding, especially around critical zones like the Suez Canal. More than 2,800 Chinese firms operate in the country across sectors such as manufacturing, construction and infrastructure, with total investments exceeding US$8 billion. Since 2023, over 30,000 Egyptian government employees have relocated to the new capital, which officially assumed the role of administrative seat following President Abdel Fattah al-Sisi's third-term inauguration. Commercial entities including banks, are also moving in, underscoring the city's growing economic significance. To ensure long-term sustainability, Egypt has implemented a 'cost-plus-margin' model for managing utilities in the new capital, maintaining government oversight while attracting international expertise. The model of having Chinese contractors not only build but also operate and maintain large-scale projects is gaining traction across Africa and appears to be a pillar of Sino-African collaboration. STORY CONTINUES BELOW THIS AD The new capital represents more than just a geographic shift, it signals a geopolitical realignment with China as a core partner in Egypt's transformation agenda.
&w=3840&q=100)
Business Standard
09-06-2025
- Business
- Business Standard
Egypt's new capital city to be built, operated by Chinese construction firm
Egypt is getting a new capital — and China is building it. The China State Construction Engineering Corporation (CSCEC), a state-owned Chinese firm, has signed an agreement to operate and maintain the central business district (CBD) of Egypt's new administrative capital, according to the South China Morning Post. CSCEC is also the main contractor responsible for constructing the district. Egypt is constructing a new administrative capital (NAC), located approximately 45 kilometres east of Cairo, to alleviate the congestion and pollution of the current capital. This ambitious project, part of Egypt's Vision 2030, aims to house over six million people and serve as the country's new political and administrative hub. Spanning 700 square kilometres, the NAC includes a $3.8 billion CBD featuring 10 office towers, five residential skyscrapers, and four hotels. Its centrepiece is the 385.8-metre Iconic Tower, now the tallest building in Africa. The district will also include supporting infrastructure and smart city features. CSCEC's newly expanded role will go beyond construction. Through a joint venture called Horizon Operations Management (Egypt) Co Ltd, the company will oversee services such as property management, utilities, public cleaning, security, green space maintenance, and environmental monitoring. This marks a shift toward the build-operate-maintain model that Chinese firms are increasingly adopting in infrastructure projects across Africa. 14 ministries already moved to Egypt's NAC Egypt has already started moving government operations to the new city. As of May 2023, 14 ministries and other state bodies had relocated. President Abdel Fattah al-Sisi inaugurated the NAC as the seat of government on 2 April 2024, shortly after the start of his third term. China's role in the project also includes significant financing. Around 85 per cent of the CBD's funding comes from Chinese lenders, including a $2.2 billion loan from a consortium led by China Exim Bank. In addition, Egypt's Arab Contractors Company and CSCEC have formed a joint venture to collaborate on further projects across the continent. Capital city vs administrative capital A capital city typically serves as the centre of governance and is symbolic of national identity. It usually hosts the executive, legislative, and judicial branches, along with being a cultural or economic hub. An administrative capital, by contrast, is where the day-to-day functions of government are carried out, such as housing ministries, agencies, and civil services. In some countries, this is a separate city from the official or historical capital. South Africa, for instance, has three capitals: Pretoria (administrative), Cape Town (legislative), and Bloemfontein (judicial). Malaysia relocated its administrative capital from Kuala Lumpur to Putrajaya in the 1990s, while Kuala Lumpur remains the national capital. New smart capital signals strategic shift Egypt is following a similar model. While Cairo will remain the capital in name, the country is relocating its core government functions, including ministries and public administration, to the newly built New Administrative Capital. The New Administrative Capital is designed as a smart city, with technology integrated into public services and infrastructure. Its development also reflects Egypt's economic ties with China, aligning with Beijing's Belt and Road Initiative.
