Egypt's Nasr Company for Civil Works awarded $14mln contract

The company will build a 5.4 kilometre (km) section between the 108 km and 113.4 km in both directions

  
Image used for illustrative purpose. Worker walks in front of buildings under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

Image used for illustrative purpose. Worker walks in front of buildings under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

REUTERS/Mohamed Abd El Ghany
Cairo –  Nasr Company for Civil Works has been awarded a project for the establishment of an embankment as well as the implementation of industrial works in the New Administrative Capital as part of the Ain Sokhna-New Administrative Capital-Matrouh light rail train (LRT).

The company will build a 5.4 kilometre (km) section between the 108 km and 113.4 km in both directions at a cost of EGP 212 million, according to a bourse disclosure on Monday.

A security deposit (5% of the contract's value) will be paid and the contract will be signed.

During the first half (H1) of 2021, the company recorded net losses of EGP 9.47 million, versus net profits of EGP 5.87 million in H1-20.

The revenues fell to EGP 66.81 million in the January-June period from EGP 98.44 million in the year-ago period.

Source: Mubasher

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