The Construction and Design (Constec) company has unveiled its expansion strategy for 2021, which includes inking a plethora of contracting agreements for new projects worth EGP 3bn.
Chairperson Mohamed Idris said that the company has a backlog of works worth EGP 1.5bn to execute in 2021, up by 90% when compared with the EGP 800m works in 2020.
In 2020, Constec entered into agreements worth EGP 2bn and managed to fulfil obligations and finalise projects on time vis-à-vis all its clients, including companies and state-owned institutions.
“On top of surmounting hurdles due to the novel coronavirus (COVID-19) pandemic that weighed heavily on the construction industry and caused many developers to delay and halt new contracting works, Constec stuck to the pre-set schedules while executing its projects undeterred by this world challenge,” Idris said.
Additionally, Constec has sought to overcome the pandemic-induced shaky outlooks, which has caused other companies to halt new works across real estate, services and tourism sectors in particular, he confirmed.
Aided by forecasts for beating the challenges posed by the COVID-19 pandemic and the resumption by private companies of their own expansion plans, Constec will go ahead with completing this strategy along with entering into new agreements, he explained.
The company is executing 10 projects, and has up to 550 direct workers, with each project creating up to 6000 jobs.
It is interested in signing contracts with state-owned organisations working within mega national projects put up regularly by several bodies, including the New Urban Communities Authority (NUCA) in fourth generation cities. These projects are also located in new city development projects, in downtown Cairo and across the country.
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 plan newly adopted by the Egyptian Government.
The company has teamed up with Italy’s IMIT Group in designing and executing a treatment plant in Gharbeya Governorate, a project funded by the European Bank for Reconstruction and Development (EBRD).
Late 2020, Constec finalised a part of works at the Arab League’s Administrative Attaché. It was inaugurated recently by the Arab League Secretary-General Ahmed Aboul Gheit, the organisation’s Assistant Secretary-General Husam Zaky, and the Iraqi Minister of Foreign Affairs Fouad Hussein.