Real Estate

Constec eyes new contracting works worth LE3bn in 2021

Cairo – Massader News

Construction & Design (Constec) unveiled its expansion strategy for 2021, which includes inking a plethora of contracting agreements for new projects worth LE3bn.

Constec chairperson Eng. Mohamed Idris said that the company has a backlog of works worth LE1.5bn to execute in 2021, up by 90% as compared with LE800mln works of 2020.

In 2020, Constec entered into agreements worth LE2bn and managed to fulfill obligations and finalize projects on time vis-à-vis all its clients, including companies and state-owned institutions.
“On top of surmounting coronavirus-induced hurdles that weighed heavily on the construction industry and caused many developers to delay and halt new contracting works, Constec sticked to the pre-set schedules while executing its projects undeterred by this world challenge,” said he.

In view of Coronavirus pandemic, Constec took up a strategy of intensifying the execution of construction works in the existing projects, increasing completion rates with the aim of protecting labors at the work sites, as well as expediting the provision of ready-mades products.

Additionally, Constec sought to overcome coronavirus-induced shaky outlooks, which caused companies to stop offering new works across sectors of properties, services and tourism in particular, he confirmed.

Aided by forecasts for beating challenges posed by Covid-19 pandemic and the private companies’ resumption of their own expansion plans, Constec will go ahead with completing this strategy along with entering into new agreements, he explained.

Constec is executing 10 projects and has up to 550 direct workers, as each project creates up to 6000 jobs.

Constec is interested in signing contracts with state-owned organizations in the mega national projects put up regularly by several bodies including the New Urban Communities Authority in 4th generation cities, new cities development projects, downtown Cairo and governorates.

Constec has a remarkable track record in collaborating with state-owned institutions and taking part in the execution of massive developmental projects.

The company has also set up a new department to handle desalination and water treatment projects, a national and strategic reorientation newly adopted by the Egyptian state.

The company has teamed up with Italian IMIT Group in designing and executing a treatment plant in Al-Gharbia Governorate, a project funded by the European Bank for Reconstruction and Development.

Late 2020, Constec finalized a part of works at Arab League’s Administrative Attaché, which was inaugurated recently by the Arab League Secretary General Mr. Ahmed Abu El-Gheit, Arab League’s assistant secretary general ambassador Husam Zaky, and Iraq Republic’s foreign minister Fouad Hussein.

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