PM: Financing NAC ‘Outside’ of State Budget, Profits Surpassed LE20 bln ...Egypt

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PM: Financing NAC ‘Outside’ of State Budget, Profits Surpassed LE20 bln
Prime Minister Moustafa Madbouly said that financing the New Administrative Capital (NAC) is outside the State budget, adding that it was established through the mega real estate development companies. Reports claiming that the financing of the NAC projects was from the State’s budget are totally untrue, he added in a speech delivered while attending the delivery of the first three towers in the Central Business District of the NAC on Sunday. The NAC attained profits above LE20 billion, he noted, saying that this is a testament to the success of the project. Talking about the implementation rate of the projects being implemented in the old capital, Madbouly said that volume of projects being

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