Arada reveals digital infrastructure plans for $6.5bn Aljada project
The digital infrastructure plans will make the US$6...
The UAE-based construction firm, Arada, has announced plans for its megaproject located in Sharjah.
The digital infrastructure plans will make the US$6.5bn project one of the smartest cities in the country.
The company’s development team will focus on five key areas during the early stages of the project: mobility, utilities, telecommunications, the ‘circular economy’, and waste management.
“Among the innovations to be introduced at the 24 million square foot development are a Sustainability Lane for electric vehicles, smart parking, smart solar-powered lighting and ‘circular’ offices,” the firm stated.
“The aim of these initiatives will be to provide residents, workers and visitors to the destination with technology that adds value, improves quality of life, saves money and also supports the environment.”
“We have always said that Aljada is a forward-thinking and progressive project, not just for Sharjah, but the whole of the UAE,” remarked HE Sheikh Sultan bin Ahmed Al Qasimi, Chairman of Arada.
“That is reflected in our smart city plans, which will improve quality of life and reduce environmental impact. We also hope that by testing products in such a large-scale environment, we can contribute positively to the learning process that every city is undergoing around the world.”
France to invest €1.8bn in Egypt’s infrastructure
France will invest a total of €1.8bn into Egypt’s infrastructure focusing specifically on upgrading the Cairo Metro, building a railway to Sudan, and developing water and energy schemes. Officials have called the investment a “major boost to bilateral cooperation”.
The Cairo Metro
Included in the financing is a concessional government loan of around €800mn to upgrade Line 1 of the Cairo Metro, introduced in the 1980s. The financing will pay for 55 trainsets for the line and is provided by the French engineering company, Alstom.
Line 6 is also due to be upgraded using further state-guaranteed loans worth up to €2bn. Bruno Le Maire said that this would be negotiated over the next six months. France and Egypt have worked in close cooperation ever since Abdel Fattah al-Sisi became president in 2014, despite differences over human rights and strong criticism of Egypt by rights activists and some foreign states.
Nine more projects over the next half a decade
A further €1bn from France’s development agency, Agence Française de Développement (AFD), aims to cover a range of other projects over the next half a decade.
These projects include a railway line between Aswan, southern Egypt, and Wadi Halfa in Sudan, as well as several projects in the renewable energy and water purification industries. Bruno Le Maire, France’s Finance Minister, said Egypt was a “strategic partner and commercial dealings with it would be developed. France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans,” he said.
According to Le Maire, the AFD will also €150mn to support the construction of a universal health insurance programme. French contractors such as Vinci and Bouygues have a long history of working on the Egyptian capital’s underground system.
Talking about the relationship between France And Egypt, Le Maire concluded: “France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans”.