An Egyptian-Chinese alliance has broken ground on Egypt’s new administrative capital which is estimated to cost $45bn.
Transatlantic BDR (TBDR) and the Tema Metropolitan Assembly (TMA) backed by Ghana’s government have entered into a long-term structured partnership to develop a $6.5bn oceanfront leisure project in Tema.The project will include a 60,000-seat FIFA-certified football stadium along with commercial, retail and residential mixed-use accommodations targeting cross-border corporations and regional companies.It will also improve the ailing infrastructure of the region. Infrastructure investments will include new roadways, a light rail system expansion, renewable energy, and a 6G wireless communication network.TBDR CEO Uduak Udofia said: "This privately-funded partnership with the Ghana government marks an aggressive outlook taken by the part of officials to establish the country as an international destination, not just for leisure but for global qualified investors and entrepreneurs to participate in the region's fast-paced economic growth. TBDR is cultivating a diverse partner and investor base for optimal success.”
Orascom Construction has secured three industrial and infrastructure projects worth $200m in Algeria and Egypt.
Danish engineering company FLSmidth has signed an EPC contract for the supply of a greenfield cement plant in Algeria.