EGP 500m to construct solar powered compound

A total of EGP 500m in investments will be injected by the Modern Company of Real Estate Investment (MCR) into an integral compound operated by solar power.

The compound will be located in Shorouk City, and will be spread over a space of 10,000 feddans, with the project involving 50 villas and seven buildings.

It will need a 1 MW solar station for the project to operate, depending on solar power, Mohamed Abd Elmohsen, the company’s Chairman, said in an official statement.

MCR will run a global tender to choose the company that will be responsible for implementing the 1 MW solar power plant.