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CAIRO – 29 May 2017: Telecom Egypt has called on the Minister of Communications and Information Technology Yasser Al-Qadi to intervene in its dispute with the Administrative Capital Company, a high-profile official has said.
According to the official, Telecom Egypt, the state's main telephone company and largest fixed-line provider, has not yet started the delivery of fiber optic cables to the country’s proposed new administrative capital as the Administrative Capital Company, one of the companies developing the new city, has demanded a share in the revenue.
The new capital project was first announced at the Egypt Economic Development conference in March 2015, at an estimated cost of US$45 billion.
It was originally to be led by the Housing Ministry, in partnership with Capital City Partners, a UAE-based fund.
In October 2015, President Abdel Fatah al Sisi has set a two-year deadline for the completion of the first phase of the mega project which, according to Presidential spokesperson Alaa Youssef, covers 10,500 feddans of land, and is to include the construction of ministries and other government buildings, a commercial center, 15,000 housing units, schools, a university complex and a medical city.