Egypt’s Moukhtar Ibrahim to open up UAE, Algeria branches by year-end

Egypt’s construction firm, Moukhtar Ibrahim plans to inaugurate two branches in UAE and Algeria by the end of 2016, its chairman Fayek al-Banna announced Sunday.

Banna said the new branches are part of Moukhtar Ibrahim’s plan to expand presence in more countries to compete for more projects there to eventually double its volume of businesses.

By 2017, Moukhtar Ibrahim aims to post volume of businesses abroad worth 500 million Egyptian pounds ($57 million), he added.

Moukhtar Ibrahim already has two branches in Saudi Arabia and Kuwait, competing to carry out major projects in infrastructure and sectors there, Banna said.