Sunday, October 30, 2016

China Building Egypt's New Capital City

Following months of speculation that the whole project had been scrapped, construction on Egypt’s New capital city by two of China’s biggest developers could begin as early as next year.

The Egyptian government is targeting up to $45 billion in investments, and the agreements set to be finalized before the year’s end will bring the country closer to that target.

Earlier this month, heads from China Fortune Land Development Company (CFLD) met with Egyptian President Abdelfattah Al-Sisi and agreed to provide $20 billion over the coming 10 years for the currently unnamed city mega project which is expected to break ground some 47 kilometers east of the current capital Cairo.

Hesham Sheta, chairman of Income – a partner in the project, said at the Reuters Middle East Investment Summit that CFLD is likely to develop an area that will include factories, shopping malls, hospitals and universities in an area covering 70 sq km of the 750 sq km area devoted to the new capital.

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In contrast, what has the US done for Egypt? Supported their authoritarian rulers and helped them crush the Palestinians.

And what is Hillary likely to do to counter this? Nothing, other than giving carte blanche to the Israels and bombing the Syrians and the Iranians, moves which will pour more gasoline onto the Middle Eastern fire.

Ultimately, China will be the greatest power in the region and the world. The fall of the US will have been our own doing.

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