Egyptian Military Production Ministry’s construction business at $894.7mn

Egyptian Military Production Ministry’s business volume in the country’s local construction sector reached 15 billion Egyptian pounds ($894.7 million), said its Minister Mohamed El-Assar on Sunday.

“The ministry owns a company in the field of construction and engineering consulting since 2016,” El-Assar said at Builders of Egypt, the country’s most prominent construction conference kicked off in Cairo under the auspices of Egyptian President Abdel Fattah al-Sisi.

Moreover, the ministry is participating in the implementation of the biggest hydroelectric dam in Tanzania, in cooperation with Egyptian state-run Arab Contractors and cable maker ElSewedy Electric, El-Assar added.

The 2,115-megawatt hydroelectric dam will be one of the most important national projects to generate electricity in Africa, with investments of $3 billion.

“The Egyptian government pays a great attention to exporting Egyptian real estate to Arab and African markets,” the minister said.

Egypt has recently witnessed tangible achievements in various economic activities, particularly the country’s construction sector, El-Assar added.

Under the rubric Exporting Egypt’s Real Estate and Contracting Services – The New Future of Investments, the fifth edition of the one-day conference saw the participation of more than 500 Egyptian, Arab, and African high-profile officials and business executives.

It was also attended by Egyptian Prime Minister Moustafa Madbouli along with Housing Minister Essam El-Gazzar, Public Works Minister Hisham Tawfik, Military Production Minister Mohamed El-Assar, and Transport Minister Kamel El-Wazir.