Housing and Urban Communities Moustafa Madbouly – who attended the inking ceremony - said the ministry aims at diversifying activities and services in the new Alamein city.
Under the memo, the two sides will also work on developing a sustainable green industrial zone in the new Alamein city, he said, noting that the zone will use renewable energy and water desalination utilities.
He added that an industrial complex will be set up in the new Alamein city.
CGCOC is a Chinese construction company that ranks among the 100 largest contractors based on international projects according to the annual Engineering News Record ranking.
The minister noted that several meetings were held with investors to pool investments into the industrial zone, adding that it was agreed that several facilities will be offered to investors.
He said the memo is the first step for establishing the industrial zone.