Egypt’s Holding Co. for Construction intends to merge six subsidiaries

The Holding Company for Construction and Development (HCCD)– part of the Egyptian Ministry of Public Business Sector – says it intends to merge six subsidiaries working in the contracting sector.

The rationale for merging the six entities into four by next year is to improve competitiveness and efforts within the construction market, said HCCD chairman Hesham Aboul Atta told Amwal Al Ghad.

HCCD owns 18 subsidiaries that all face financial and management difficulties, driving the parent company to inevitably take merger move.