Egypt’s Arab Contractors seeks contracts up to $5 bln in Africa

Egypt’s state-run construction firm Arab Contractors (AC) plans to sign contracts up to $5 billion within the next period to execute infrastructure projects in Africa, said its chairman Mohsen Salah on Saturday.

This comes as part of the company’s expansion scheme to bid for implementing bridge works and various road flagships in a bunch of African countries, Salah further told Amwal Al Ghad.

“We target increasing our business volume to around 20 billion Egyptian pounds ($1.1 billion) within the next year,” he said, adding that the business will include works inside and outside Egypt.

The official said the company signed two contracts to implement two new road projects in Uganda within the current period.

Also, Salah said that AC hopes to double the business volume in Côte d’Ivoire, through launching a number of new road projects there.