Egypt’s state-run National Company for Construction and Development (HCCD) is to launch a new leasing arm to meet the construction companies’ needs of modern equipment at the end of 2016, its head Mahmoud Hegazy said Monday.
Earlier Hegazy told Amwal al ghad that the new company capital would be estimated at 50 million Egyptian pounds (US$ 6.4 million).
HCCD is cooperating with the Arab Bureau for Design and Technical Consultation to complete the new company’s financial and related documents. Afterwards, the documents would be presented to the Financial Supervisory Authority.
National Company for Construction and Development engages in the field of construction and building in Egypt.
Moreover, The company engages in electricity contracting, housing construction, and irrigation; manufacture and production of electrical transformers, appliances, and insulators; implementation of mechanical and electrical projects; real estate development and investment; rental and purchase and development of land; finance of the purchase, construction, and renovation of real estate; banking activities; and forming and establishing investment funds.