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Construction contracts worth $23.55 billion are expected to be awarded in Egypt in 2023, according to Ventures Onsite, a construction projects intelligence platform.
The projects awarded till date amount to $16.5 billion with buildings and infrastructure sector expected to see a good jump in 2024, according to the platform.
Speaking at the Egypt Construction sector webinar held on Wednesday, Phillip Higgins, Director of Sales Lead Management, Ventures Onsite listed out the major projects announced, top clients who announced and awarded major projects, and top contractors who won projects in 2023.
| SECTOR | 2023 CONTRACTS AWARDED TILL DATE ($MLN) | 2023 FORECAST ($MLN) |
|---|---|---|
| Oil and gas | 2,405 | 3,100 |
| Industrial | 2,511 | 3,500 |
| Buildings | 8,404 | 12,389 |
| Power and Water | 268 | 650 |
| Infrastructure | 2,912 | 3908 |
| TOTAL | 16,500 | 23,547 |
Source: Ventures Onsite
Top companies who announced major projects in 2023
- Palm Hills Developments (PHD)
- General Authority for the Suez Canal Economic Zone, Egypt
- Misr Italia Group
- Egyptian Natural Gas Holding Company (EGAS)
- Magnom Properties
- Egypt TEDA SCZone Development Company
- Xinxing Ductile Iron Pipes Co.
- Ministry of Housing, Utilities and Urban Development, Egypt
- New Urban Communities Authority (NUCA)
- MBG Development
Top companies who awarded major projects in 2023
- Ministry of Transport, Egypt/National Authority for Tunnels (NAT)
- Emaar Misr Developments/Eagle Hills
- El Sewedy Industrial Development
- Egyptian Natural Gas Holding Company (EGAS)
- Egyptian National Railways
- Madaar Development
- Orascom Development Holding (ODH)
- Ministry of Housing, Utilities and Urban Development, Egypt
- Egyptian Petrochemicals Holding Company (ECHEM)
- BSW Group
Top contractors who won major projects in 2023
- Hassan Allam Construction
- Sokhna General Contracting and Construction
- COLAS Rail
- Orascom Construction
- Elevate Construction Company
- MIG-Masrya International Group for Engineering and Contracting
- Lozan Urban Development (LUD)
- Concrete Plus for Engineering and Construction
- Petrojet
- Schlumberger
| PROJECT | CLIENT | VALUE ($MLN | STATUS |
|---|---|---|---|
| TEDA Chinese Industrial Zone, Ain Sokhna - Cast iron pipes and steel factory | General Authority for the Suez Canal Economic Zone, Egypt -TEDA SCZone Development Company, Xinxing Ductile Iron Pipes Co. | 2,000 | Planned |
| Solare Resort – Ras El Hekma | Misr Italia Group | 1,035 | Design |
| Actis green hydrogen and green ammonia facility – Ain El Sokhna | General Authority for the Suez Canal Economic Zone, Egypt, The Sovereign Fund of Egypt (TSFE), Egyptian Electricity Transmission Company (EETC), New and Renewable Energy Authority (NREA) | 1,000 | Planned |
| Forbes International Tower – New Administrative Capital | Magnom Properties | 670 | Design |
| V40 – New Cairo | City Edge Development | 325 | Design |
| Salt – North Coast | Tatweer Misr | 300 | Design |
| Integrated Urban Project – New Administrative Capital | MBG Developments | 300 | Design |
| Industrial Area – New Administrative Capital | Administrative Capital for Urban Development (ACUD) | 250 | Planned |
| Koun Ras El-Hekma | Mabany Edris | 195 | Design |
| Electric vehicles factory | M Glory Holding, Arab Organisation for Industrialisation (AOI), Jordan Design and Development Bureau (JODDB) | 190 | Planned |
Source: Ventures Onsite
(Writing by Sowmya Sundar; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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