Egypt’s leading construction firm, Arab Contractors Company (AC) will sign next September new contracts to implement a number of housing projects in Algeria, said board member Ashraf Rateb.
Rateb further told Amwal Al Ghad that a delegation from Arab Contractors headed by Chairman Mohsen Salah will visit Algeria next month to sign the new contracts.
AC is currently implementing a number of residential projects (around 6.000 housing units) in the Algerian capital beside some neighbouring cities, at total cost of US$240 million, he noted.
Moreover, Rateb further referred that AC has formerly signed a protocol on cooperation with the Algerian ministries of Industrial Development and Investment. As pursuant to the protocol, AC is set to assist the Algerian government’s plans in establishing 42 industrial zones, at total cost of US$58 million.
Arab Contractors seeks to double its size of businesses in Algeria, as part of its plans to expand abroad, he noted.
In the past years, the political disagreement between Cairo and Algiers in the past years negatively affected the company’s number of projects in the country.