Egypt’s Arab Contractors is looking to raise its Africa business volume to EGP 1 billion ($57.2 million) within 2019, head of African sector in the firm said.
This is part of the company’s plan to compete for executing various infrastructure projects in some of the African states, Amwal Al Ghad reported, citing Ibrahim Mabrouk.
“We are currently studying the establishment of two road flagships in Tanzania and Côte d’Ivoire,” Mabrouk said.
He added that these projects would be funded by the Egyptian government, in addition to a number of international and Islamic banks.
The Egyptian state-run construction company had implemented a major road project in Ethiopia with $55 million in investments and had built a hospital in Uganda with a capacity of 500 beds at a cost of $25 million, he highlighted.
Moreover, the firm had developed an airport in Abidjan last September at a cost of EUR 30 million, Mabrouk said.