Prime Minister Ibrahim Mahlab on Tuesday attended the signing ceremony of an agreement between the New Urban Communities Authority and the consortium of the Arab Companies for Development and Investment.

The agreement, whose investments hit 35 billion pounds, is aimed at setting an integrated urban project in the 6th of October city on 557 acres.

The project includes setting up tourist, administrative, educational and commercial establishments, said Minister of Housing Mostafa Madbouli in press statements.

The agreement is part of the memorandums of understanding that were signed during Egypt Economic Development Conference in Sharm el Sheikh March, he added.