Hassan Allam Holding (HAH) announced on Tuesday that it is advancing two main infrastructure projects awarded by Modon Ras El Hekma Egypt for Urban Planning and Development, the local subsidiary of Abu Dhabi-listed Modon for the Ras El Hekma mega project on Egypt’s Mediterranean coast.

The contracts form part of the first phase of the $35 billion master-planned development, the company said in a press statement.

HAH subsidiary Hassan Allam Roads & Bridges is implementing the Primary Infrastructure Works for the Ras El Hekma Ring Road. The 17-kilometre (km) six-lane dual carriageway also incorporates utility pipelines and networks.

Meanhile, another HAH subsidiary Hassan Allam Construction is executing dry bulk excavation works for the 5.3km Grand Canal, a landmark waterfront development set to become a defining feature of the masterplan.

Ras El Hekma spans approximately 170.8 million square metres (sqm) along 44-km of Mediterranean coastline. The development is expected to attract approximately $110 billion in investment by 2045.

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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