Elsaeed Contracting awarded project

The project will be implemented over five months

  
Image used for illustrative purpose Workers wearing protective face masks stand on a building 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 Workers wearing protective face masks stand on a building 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 – Mubasher: Elsaeed Contracting and Real Estate Investment Company has been awarded a new contracting project by the Armed Forces Engineering Authority.

The project will be implemented over five months with an estimated value of EGP 130 million, the company said in a bourse disclosure on Monday.

The company received on Sunday, 26 September, a letter of intent to start the executive procedures of the project.

During the first half (H1) of 2021, the company logged consolidated net profits of EGP 73.71 million, up from EGP 68.34 million in H1-20, including minority shareholders' rights.

The revenues increased to EGP 718 million in the January-June period, compared to EGP 492.43 million in the prior-year period.

Source: Mubasher

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