Al-Abd nears winning infrastructure mandate in Egypt new capital

Egypt’s state-owned construction company Al-Abd says it will reach a new deal soon to implement a utilities project of around 150 million Egyptian pounds ($8.4 million) in the country’s new administrative capital.

The company is currently negotiating with the Egyptian Armed Forces to win a mandate to implement the utilities project in the new capital, its managing director Said Fattouh said Sunday, expecting to sign the contracts within the next four weeks.

By signing this contract, the company’s turnovers in the new capital will rise to about 400 million pounds, Fattouh said.

The company recently won a mandate to carry out 27 residential buildings of 250 million pounds in the new capital, in cooperation with the country’s Armed Forces Engineering Authority, he said.