Egyptian contractor Concord targets revenues of $485mln in 2023

Egyptian contractor Concord targets revenues of $485mln in 2023

Concord for Engineering and Contracting aims to achieve a business volume of 15 billion Egyptian pounds ($485 million) in Egypt by the end of 2023 by targeting construction and infrastructure projects in the country, Chairman Ahmed Al-Abed said. The company recently signed an agreement with Abu Dhabi-based Bin Wanis General Contracting, Maintenance and Property Management Company to form a joint venture contracting company, which will bid for infrastructure projects in the Middle East and Africa. Ahmed Al-Abed said the JV, Concord Emirates Company , would be launched within four months, adding that the first project on their agenda is a railway project connecting the UAE to a neighbouring country. Concord for Engineering and Contracting portfolio of infrastructure projects include stations for the first phase of the fourth metro line, a light electric train to the New Administrative Capital, tunnels for the Suez Canal, and land reclamation in the eastern region. Read more: Oman and Etihad Rail Company issues civil works prequalification notice for Oman-UAE railway project (1 US Dollar = 30.95 Egyptian Pounds) (Reporting by Marwa Abo Almajd; Editing by Anoop Menon) ( [email protected] )