Facing slowdown, contractors should look for projects abroad

Taking on work outside of Egypt could be the best way to for local contractors to alleviate the pressures caused by the EGP devaluation, Hossam Abougabal suggests in MEED. “Some contractors operating in Egypt have told MEED that although a government package is on the way, it is unlikely to truly reflect the actual increase of construction. Similarly some contractors have been unhappy with contracts already renegotiated with private sector clients,” Abougabal writes.