Egypt’s CONSTEC eyes 1 bln pounds business volume next year

Egypt’s Construction and Design Company (CONSTEC) targets business volume estimated at one billion Egyptian pounds ($56.3 million) within 2018, said its managing director Ashraf Abdel Hakim on Sunday.

Abdel Hakim further stated that CONSTEC also seeks to expand its business volume and sign deals to implement in number of infrastructure, network, and renewable energy flagships as well as industrial projects in Suez Canal Axis.

“The company is negotiating to execute infrastructure works and touristic resorts projects, at costs worth 350 million pounds,” the Egyptian official noted.

In 2017, Abdel Hakim added that the company signed a contract with number of property developer firms to implement various residential flagships of 400 million pounds in Fifth Settlement district and Sixth of October City in favour SODIC and Hyde Park.

CONSTEC also won a mandate to carry out touristic resorts in North Coast for SODIC and Tatweer Misr, at costs worth 200 million pounds as well as administrative buildings for Misr Italia, at costs worth 100 million pounds.