Egypt: Giza Contracting rolls out $17.44mln project award

Egypt: Giza Contracting rolls out $17.44mln project award

Cairo - The New Urban Communities Authority awarded Giza General Contracting and Real Estate Investment Company a project contract valued at EGP 539.11 million.

The EGX-listed firm will handle the works in the social housing buildings area for all Egyptians in the Fourth District of New Aswan City, according to a bourse filing.

Under the deal, the company will implement medium and low-voltage electricity networks and street lighting.

In the first nine months (9M) of 2023, Giza Contracting generated EGP 44.28 million in consolidated net profit after tax, up year-on-year (YoY) from EGP 41.99 million, including minority interest.

Revenues plummeted to EGP 815.38 million in 9M-23 from EGP 1.05 billion in 9M-22, while the earnings per share (EPS) went up to EGP 0.03 from EGP 0.02.

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