Arab Contractors eyes Turnovers up to EGP15 billion at 2015-end

By Yomna Yasser On Jan 31, 2015

Egypt’s leading construction firm, Arab Contractors is targeting a business volume of 15 billion Egyptian pounds (around US$2 billion) by end of current fiscal year, chairman Mohsen Salah announced.

This marks an increase of 2 billion Egyptian pounds than what had been achieved a year earlier.

Speaking to Amwal Al Ghad, Salah stated that having a higher business volume comes in the light of AC’s future expansions through getting involved in a number of local and international projects.

In terms of overseas activities, Arab Contractors aims to double its business volume to around US$5 billion, the chairman added, referring that the company has already heralded early 2015 new contracts to carry out a number of projects in Africa.

AC is also studying the implementation of a number of road and giant housing projects in Morocco following signing its first contract, at value of US$25 million, in the country early 2015, Salah elaborated.

Moreover, the Egyptian official said Arab Contractors is also considering participation in a number of underground and infrastructure projects in Saudi Arabia, seeking to push its volume of businesses in the Kingdom higher to 3 billion Saudi riyals, up from 2 billion.