|30 September, 2018

Egypt’s SIAC to finalise 7 infrastructure projects in December

SIAC is nearing to finalise establishing a power plant in Sixth of October City

Image for illustrative purposes. Egyptian construction workers build new houses in El Maraj city at New Maadi, south of Cairo September 30, 2012.

Image for illustrative purposes. Egyptian construction workers build new houses in El Maraj city at New Maadi, south of Cairo September 30, 2012.

REUTERS/Amr Abdallah Dalsh

Cairo: Egypt’s SIAC Holding Construction is preparing to complete seven infrastructure projects in the country before the end of next December, said an official in the firm on Saturday.

The company is planning to increase its business volume to more than six billion Egyptian pounds ($336.8 million) at the end of this year, its chief business development officer Ahmed Azmi further added.

SIAC is nearing to finalise establishing a power plant in Sixth of October City, in partnership with Italy’s Ansaldo Energia Group as well as a drinking water treatment station in Port Said city, Azmi said.

Ansaldo Energia is a leading international player in the power generation industry, to which it brings an integrated model embracing turnkey power plants construction, power equipment, manufacturing, services and nuclear activities.

SIAC is executing the furnishing works on Saudi Egyptian Construction Company’s (SECON) Nile Towers in Corniche El Nile at Maadi, he said, adding that this project will be delivered within the next few months.

The company are also implementing a bunch of residential projects in Mivida project in Fifth Settlement district for Emaar Misr for Development, the Egyptian unit of UAE property conglomerate Emaar Properties, Azmi said.

“We are carrying out a number of infrastructure projects in Mostakbal City, New Cairo,” Azmi added.

SIAC has completing establishing Al Azhar Library, A UAE-financed project, in Salah Salem Highway Road, he said, adding that the library will be delivered within the next two months.

“We are carrying out the final phases of a drinking water treatment station in Suez governorate,” he said.

Last month, SIAC handed over a cement plant in Beni Suef governorate, in partnership with Hassan Allam, Rowad Modern Engineering, and Gama for Trading and Contracting, he said.

“The company is building a new cement plant in Sohag in partnership with a Chinese firm, he said, adding that the accomplishment rates reached 65 percent.

SIAC is currently negotiating to execute new infrastructure projects in new cities, he added.

Source: Amwal AlGhad

Copyright © 2018 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction