Cairo – Mubasher: Egypt topped African countries in terms of the number and value of construction projects in 2018, Deloitte’s Africa construction trends report showed.
A total of 46 projects were established in Egypt, accounting for 9.5% of the total number of projects in Africa last year, at a combined value of $79.2 billion, representing 17% of the total value of projects in the continent.
The most prominent projects stimulating growth in North Africa include the Tahrir Petrochemical Complex, set to be the Middle East’s largest petrochemical complex as well as Egypt’s first nuclear power plant, Dabaa nuclear plant, which will be the largest project in Africa.
The North Africa region experienced the largest change in terms of the number and value of projects last year, registering a 172.5% year-on-year growth in the number of projects and a 92.3% annual rise in the value of projects.
Chinese construction companies made up 12.8% of construction in North Africa, financing one in every five projects in Africa.
Chinese investors are attracted particularly to the Suez Canal Economic Zone and the port of Alexandria.
Rising optimism for Egypt’s construction sector boosts the positive outlook for Orascom Construction Plc and Elsewedy Electric Co, MubasherTrade Research noted.
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