Madinet Masr has inked a memorandum of understanding (MoU) with Elmarakby Steel to revolutionize waste management strategies at construction sites, as per a statement.
The MoU comes in line with Egypt's broader agenda to reduce carbon emissions and foster environmental and economic sustainability within the construction sector.
As the first of its kind in the realm of real estate development, this collaboration underscores Madinet Masr's commitment to sourcing materials from suppliers prioritizing low-carbon production methods.
By procuring the majority of its reinforced steel rebar from Elmarakby Steel, Madinet Masr is actively reducing its carbon footprint in line with its sustainability objectives.
Moreover, Madinet Masr's proactive approach extends to waste reduction initiatives, with plans to collect scrap materials generated from its construction sites and contractors.
Elmarakby Steel will then transform this scrap into new reinforced steel and wire rods, closing the loop in the construction process and contributing to Egypt's sustainability vision for 2030.
Established in 1959 and listed on the Egyptian Exchange (EGX) in 1996, Madinet Masr is an urban community developer. It is involved in real estate property investment, development, and management. Through its subsidiaries, it provides civil contracting for buildings and infrastructure projects.
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