Egyptian state-run construction firms’ business volume rises to 24bn pounds

Number of Egypt’s state-owned construction firms increased its business volume to 24 billion Egyptian pounds ($1.3 billion) during 2016, a source with knowledge at HCCD told Amwal Al Ghad on Monday.

The source further told that this increase is due to carrying out a bunch of national projects.

“The total business volume of public sector firms includes the implementation of infrastructure, construction, and residential works as well as service facilities,” he stated.

The source added that the 24 billion pounds include residential projects in 2016 as well as road, bridge, and tunnels flagships worth 7.8 billion pounds.

The sum of 533.3 million pounds was contributed to educational institutions in addition to an amount of 302 million pounds was granted to buildings and institutions for medical usage, he referred.