Egypt, China ink integrated operation, maintenance agreement for CBD in New Capital
Arab Finance: The New Urban Communities Authority (NUCA) and an Egyptian-Chinese alliance represented by Horizon Management Company have signed an integrated operation and maintenance agreement for the Central Business District (CBD) in Egypt's New Administrative Capital, as per a statement.
Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny described the agreement as a major step in the modernization of public utility management in Egypt.
He said the new model, known as Cost + Margin, strikes a balance between maintaining service quality and ensuring operational sustainability, while preserving state oversight through budget approvals and performance reviews.
The agreement covers the management and maintenance of core infrastructure including electricity and water networks, fire systems, and other critical utilities.
It also extends to public cleaning, security and safety services, green space upkeep, and environmental monitoring.
El-Sherbiny noted that the agreement mandates full compliance with technical specifications and legal standards by all service providers.
It includes a system of financial and technical oversight, regular performance monitoring, budget reviews, and the preparation of detailed evaluation reports submitted to the NUCA.
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