Arab Contractors Seizes Ethiopia Tender At $22 mln

The Arab Contractors Company has won the tender of establishing a road in Ethiopia at $ 22 million cost. The contract will be signed next November.

Dr Osama El Husseiny, Chairman of Arab Contractors Company, said Africa will be the company’s destination in the coming period; affirming that the company gained the confidence of African Countries during the last period, due to implementing many projects in Guinea, Kenya, Nigeria, and Ghana.

On the same context, Osama El Husseiny emphasized that Libya is a vital market for Egypt due to the low costs of the employment and machines. He mentioned that his company seeks entering the Libyan market after forming permanent government; pointing to his participation in the delegation that will escort the ministry of housing to Libya. This delegation will discuss the ways of reconstructing Libya, as well the participation in the new investments.

He referred that the company’s dues at the government will negatively affect its work, owing to the decreased available liquidity that the company has.

In the other hand, El Husseiny elaborated that Iraq has stability that foster investment, as the company has signed the last contract at $ 24 million cost; adding that the company aims at achieving huge ventures.