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Integrated Systems founds EGP 10m Itex company to compete for Communication Ministry projects - Daily News Egypt

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Integrated Systems founds EGP 10m Itex company to compete for Communication Ministry projects

We are negotiating with foreign companies to develop partnerships and acquire on major projects: Fayyad

The Integrated Systems alliance founded a company, I Tex, with a capital of EGP 10m through which the alliance will bid for tenders for major sector projects proposed by the Ministry of Communications.

On top of these projects are those for the automation of the commercial registry and notary offices.

Future CEO of Itex Mokbel Fayyad said the alliance is currently negotiating with a number of foreign companies to enter into partnership to compete to put up tenders. There were negotiations with US, Chinese, and Gulf companies for a partnership to compete for the project of supplying smart electricity metres and development of commercial registration and notary offices.

An official at the Ministry of Communications and Information Technology said the conditions of contract for the project will be released on Thursday after the qualifying tender put forward by the ministry in October 2015.

Five alliances applied for the project, including Huawei, Alkan CIT, Dallah Al-Baraka, and an Emirati alliance called GET. along with Itex.

According to Fayyad, the founding alliance of Itex consists of eight local companies specialising in communications and IT solutions to form a force with solvency and financial strength to be enable to compete with major foreign companies. Act, ProsyLab Holding, Giza Systems, and Summit Holding are the most prominent among the companies in the Aaliance.

Another major participant is Raya Information Technology, after the parent company Raya Holding retreated from its decision not to participate in government projects. Each of the eight companies has a 12.5% share and the investments of the company are expected to reach EGP 500m once it is assigned any of the set up projects.

The Ministry of Communications proposed  two qualifying tenders in October 2015 to implement the project for the development, automation, and management of the commercial registry and notary offices through the public private partnership (PPP) system. The size of investment for the projects is estimated at about EGP 2bn.

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