Egypt’s Suez Canal Economic Zone (SCZone) has contracted three local firms for EGP 1.6 bn-worth of road paving work at Ain Sokhna Port, with construction set to be complete within a year, the business outlet Al Mal quotes sources it says are close to the matter as saying. Several unnamed firms had submitted offers after the SCZone issued tenders for the work, Al Mal says.

Who was awarded the contracts?Concrete Plus for Engineering & Construction took half of the contract value (EGP 800 mn),while the remaining half of the contracts will be split equally between two other firms the sources did not name, Al Mal reports.

Background: Egypt has been on a major drive to improve the country’s ports and recently signed USD 1.6 bn in contracts with international players to develop and operate new container terminals at Sokhna and Dekhelia. Those developments will almost triple the ports’ capacities and add 2k direct and indirect jobs. AD Ports (ADP) also recently signed a 30-year concession agreement that will see it investing USD 200 mn to develop and maintain a new container terminal at Egypt’s Safaga Port. There are also talks of further investments by ADP in Egypt’s port infrastructure including cruise terminals at Sharm El Sheikh and Hurghada as well as RoRo, cruise, and multi-use terminals at Ain Sokhna Port.

Tags: