Egypt has signed a deal with a Chinese company to fund the infrastructure of its ambitious One Million Acres Project in west Minya region, said a report.

The project will involve the creation of a service village with a total population of around 10,000, reported the Daily News Egypt, citing the Minister of Housing Mostafa Madbouly.

At a later stage, the project will see the creation of five agricultural villages with a total population of 25,000, to make use of the fertile lands and cultivate different crops, said the minister.

Lands that cannot be used for agriculture-related activities will be used for fish-farming, urban housing, and other services, he added.

As per the agreement, the Chinese company, whose name has not been officially announced, will make available the funding for the infrastructure of the land reclamation and new urban communities development within the One Million Acres Project, said the report.

The government is also planning to set up its One Thousand Factories project in New Cairo, it added.