Arab Contractors to Double Equatorial Guinea, Nigeria Businesses by 2016-end

Egypt’s leading construction firm, Arab Contractors (AC) aims to double its businesses in Equatorial Guinea and Nigeria to $3 billion by end of 2016. The company seeks to enroot its presence in two African countries through carrying out a number of new projects.

According to head of AC’s African sector Ashraf Rateb, the company intends new expansions through carrying out of a number of infrastructure and housing projects in Equatorial Guinea and Nigeria.

AC is currently planning to win a number of road and bridge projects in Nigeria, he added.

Furthermore, the Egyptian official pointed out that Arab Contractors has recently won a new contract worth US$100 million to carry out 1000 housing units in Equatorial Guinea’s administrative capital, Oyala within one year and a half.

The business portfolio of the leading construction company is currently worth US$190 million in Equatorial Guinea, encompassing projects in infrastructure and military camps. In addition, AC is currently implementing five new projects in Nigeria, with estimated cost of US$65 million.