State-owned Arab Contractors could soon collaborate with China’s state-owned CSCEC on some big-ticket infrastructure projects in Africa under a cooperation protocol inked yesterday between the two companies, according to a cabinet statement. The cooperation protocol establishes a formal alliance that will see them jointly pursue projects in Egypt and the continent as a whole.

Partnering with the world’s largest construction company by revenue for projects across Africa is no small thing, given the hundreds of USD bns that China invests into its Belt and Road initiative in the continent. Between 2013 and 2023, Chinese companies signed over USD 700 bn worth of contracts for projects in Africa under the initiative, according to Chinese state media.

CSCEC has also been looking to partner with local private sector players for projects at home and abroad, having inked a strategic partnership with Organi Group in February under a plan to jointly secure contracts worth USD 5 bn in Egypt and Libya, in addition to additional projects in Saudi Arabia and the UAE, Organi Group CEO Essam Al Organi said.

REMEMBER- The Chinese construction giant is no stranger to Egypt, with the company playing a major role in the construction of the new administrative capital and its Central Business District, the Downtown Towers project in New Alamein, and more either under construction or on the drawing board.

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