HCCD to import modern equipment worth $225mn in 2 years

The Holding company for construction and development is aiming to import modern equipment worth 2 billion Egyptian pounds (US$225 million) during the next two years, Chairman and Managing Director of HCCD Mahmoud Hegazy, said on Monday.

HCCD will provide the equipment for the contracting companies operating in the public sector , Hegazy added.

The complementary business company-subsidiary to HCCD – is listing the companies’ needs and identifying the required equipment and its specifications.

HCCD has already imported the first tranche of the equipment with total value of 300 million pounds through the leasing companies.

Hegazy added that 90 percent of the imported equipment mainly include roads-related and drilling equipment.

HCCD is considered one of the biggest companies in the field of construction and building in Egypt. Hccd started its activities since 1960 under different names according to the legal regulations controlling its frame of work.