Rédaction Africa Links 24 with Egypt Independent
Published on 2024-02-23 04:08:12
The Vice President of the UAE National Marine Dredging Company, Nasser al-Marzouqi, recently announced a major project to establish oil pipelines linking Egypt to Europe at depths of up to 2,000 kilometers. This ambitious project demonstrates the company’s commitment to expanding its operations and forming strategic partnerships with key players in the energy industry.
During a meeting with Egyptian Petroleum Minister Tarek al-Molla, al-Marzouqi emphasized the company’s intention to invest in green energy projects, highlighting its forward-thinking approach towards sustainable energy solutions. The meeting also resulted in an agreement to hold technical meetings to discuss and finalize projects of mutual interest, setting the stage for future collaboration between the two parties.
This announcement is just one of the many significant projects that have been established through collaboration between Egypt and the UAE. Another notable venture involves the New Urban Communities Authority in Egypt and the UAE company “UDC” reaching an agreement to allocate a plot of land in the Andalus Gardens area in New Cairo for the development of an integrated urban activity project.
According to the terms of the contract, the designated plot of land spans over 665,505.63 square meters and is situated on the central ring road on the southern 90th Street in the Hadayek al-Andalus area. The UDC Real Estate Development, a subsidiary of the UAE’s Mohammed Omar Bin Haider Holding Group, is set to spearhead the development of a comprehensive urban activity space called The Crest, in collaboration with Alcazar Company.
The project will encompass residential, administrative, entertainment, commercial, and hotel components and will embody the high standards that the company is known for globally. With an implementation period of eight years and an estimated investment of LE60 billion in foreign currency, the project is expected to make a substantial impact on the local and international real estate markets.
This initiative reflects the commitment of both Egypt and the UAE to cultivate fruitful partnerships that drive economic growth and facilitate the development of innovative and sustainable urban spaces. The collaborative efforts between the two nations are indicative of a shared vision for progress and prosperity, as well as a dedication to leveraging each other’s strengths and resources.
As the UAE National Marine Dredging Company continues to forge ahead with its ambitious oil pipeline project and the UDC embarks on its integrated urban activity endeavor in Egypt, these developments underscore the strength of the enduring partnership between the two countries and the potential for even greater cooperation in the future.
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