Moukhtar Ibrahim eyes 3 bln Egyptian pounds in business volume by next FY-end

Egypt’s construction firm, Moukhtar Ibrahim said it targets business volume worth three billion Egyptian pounds ($166.2 million) total at the end of next financial year.

The Egyptian leading company’s total current contracts stand at 9.5 billion pounds.

Mohamed Alkhatib, Moukhtar Ibrahim’s deputy chairman for financial and administrative affairs, said Thursday that his company is planning to expand its business volume from national mega projects.

“We have lately been tasked with a number of projects which contributed to raising our business volumes and restoring our strong position in the local market,” Alkhatib noted.

The Egyptian official further expected that Moukhtar Ibrahim’s total business turnovers would record three billion pounds at the end of June 2017.

Moreover, Moukhtar Ibrahim has captured a 20 percent share in current works in the new capital city project, at total cost of 200 million pounds, Alkhatib added.

“We have has been earlier assigned with implementing infrastructure works in the first phase of the new capital city,” he showed.

Hassan Allam is also executing 40 percent of the city’s work volume, while Electricity Generating Public Company- EGCO is carrying out additional 20 percent of the city’s works, he clarified.

EGCO’s works include the establishment of drinking water and sewage water plants as well as bridges, he said.