Construction works - file
CAIRO - 1 December 2022: Egypt targets to implement utility projects in Arab and African countries, aiming to support financial resources of Egyptian companies.
This is part of the plan of the Egyptian Holding Company for Construction and Development, one of the companies of the Ministry of Public Business Sector, aims to implement several challenging projects outside Egypt in a number of Arab and African countries during the coming period.
The company, headed by Engineer Hisham Abu Al-Atta, is following up on all international tenders that are offered through its subsidiaries, which contributed to several projects like: projects in the Sultanate of Oman and others in the United Arab Emirates, Saudi Arabia and Kuwait, which were implemented years ago, and Mokhtar Ibrahim Egyptian Contracting Company obtaining a new project in Abu Dhabi, in addition to the near completion of a road project for Al-Nasr General Contracting Company, Hassan Allam, in the State of Sudan.
It is noteworthy that the Holding Company for Construction and Development is affiliated with 14 companies other than 13 joint venture companies and 22 companies in which it contributes, while it owns 6 electrical contracting, and construction companies that are already working on projects inside and outside Egypt.
The holding company, as an independent unit, achieved 1.2 billion pounds in profits represented by its share in the profits of its subsidiaries amounting to 897 million pounds, and an amount of 332 million pounds resulting from the sale of some real estate assets, and rents collected and compensation to the holding, amounting to 231 million pounds from the Nile Cotton Ginning Company and other sources during the period fiscal year 2020-2021.
Activity revenues amounted to 15.3 billion pounds, compared to 15 billion pounds in the fiscal year 2019-2020, while 1.9 billion pounds were made in profits, compared to 1.2 billion pounds, an increase of about 50%.
Comments
Leave a Comment