State-run contractors’ turnovers in Egypt new capital rise to $120.3mn
Egypt’s state-run construction companies operating in the country’s new capital reached business portfolio ranging between 1.5 billion Egyptian pounds and 2 billion Egyptian pounds ($90.2-$120.3 million), according to an official.
The companies are affiliated to the Holding Company for Construction and Development (HCCD).
The business portfolio was collected from signing new contracts and executing various projects in the new capital, HCCD’s vice-chairman Mousa Shoaib told Amwal Al Ghad on Wednesday.
The firms’ ongoing works vary between major utilities and housing projects as well as services buildings within the first phase of the new capital works, Shoaib added.
“The construction companies have succeeded in increasing its business portfolio as well as getting various works in other new cities,” he said.