Egypt’s Moukhtar Ibrahim to raise 2017/18 businesses to 1bn pounds

Egypt’s construction firm, Moukhtar Ibrahim says it is planning to boost its business volume to one billion Egyptian pounds ($55.2 million) within the financial year 2017/2018.

The businesses will be increased through implementing infrastructure and housing projects in the local market.

Mohamed Alkhatib, Deputy Chairman of Financial and Administrative Affairs and Director, said Wednesday that Moukhtar Ibrahim is executing a giant share of infrastructure projects in Cairo and other governorates.

“We plan to deliver the second phase of a drinking water plant in Sixth of October City by mid-2018, at a cost worth 500 million pounds,” Alkhatib noted.

The Egyptian official further added that Moukhtar Ibrahim also braces for carrying out a number of other drinking water stations as well as sanitation networks in Qena and Sohag.

About the company’s other projects, Alkhatib showed that Moukhtar Ibrahim captures a mega share of infrastructure flagships in Oman as a part of the company’s expansion scheme in foreign markets.

“The company’s business volume will record three billion pounds at the end of June 2017, distributed as ongoing infrastructure, road, and residential projects in Egyptian governorates,” he concluded.