Today, Thursday, the Administrative Capital Company for Urban Development in Egypt signed a contract with the German company Dorsch Global and the Egyptian company ECG to establish a joint-stock company to manage the water facility in the new capital.

The company said in a statement that the water facility will be managed in cooperation with a group of major German operators in accordance with the highest standards of quality and sustainable development, with the aim of reducing water network losses to 7%, while managing the billing and collection system through smart meters.

The statement quoted the Chairman of the Board of Directors of the Administrative Capital Company, Khaled Abbas, as saying, “We are pleased to increase foreign investments in the Administrative Capital, which is the goal that the company always seeks. We are also open to further cooperation with all partners,” according to the Arab World News Agency.