The ministry of finance has signed contracts to establish 24 new language schools in the system through public-private partnership (PPP).
The ministry of finance said in a statement issued on Saturday that it signed eight contracts with eight Egyptian and Arab investment companies for the first phase of the national project, for the construction and operation of schools, which is implemented through partnering with the private sector.
According to the contracts, 24 new schools with 1,000 classrooms will be established at an investment cost of about EGP 650m.
Furthermore, the ministry pointed out that the schools will be established in seven governorates, namely Cairo, Giza, Damietta, Gharbeya, Sharqeya, Qaliubiya, and Menoufiya.
According to the statement, the duration of implementation of the new schools’ project will take up to 30 years, explaining that the investors will build the schools and equip them with necessary equipment for operation.
The statement also explained that by the end of the 30-year timeframe, the schools’ ownership will be transferred to the ministry of education.
For his part, the Minister of Finance, Mohamed Moeit, said that the contracts signed are part of the government’s efforts to improve the quality of the educational system, and to find new and modern frameworks to develop all aspects of the educational system, in order to serve the broad sectors of the Egyptian society who are looking forward to having better educational levels.
Moeit stressed that the state supports the participation of the private sector in the enhancement of public services. Therefore, the ministry of finance is working to attract private sector investments in order to benefit from its expertise and its operational efficiency in various fields.