Latest news with #ArabContractorsCompany
Al-Ahram Weekly
01-06-2025
- Business
- Al-Ahram Weekly
Egypt, China establish joint alliance for mega construction projects in Egypt, Africa - Economy
The Arab Contractors Company and China State Construction Engineering Corporation (CSCEC) signed a cooperation protocol to form a joint alliance to execute major infrastructure projects within Egypt and across the African continent, the Egyptian cabinet announced in a statement on Sunday. Prime Minister Mostafa Madbouly witnessed the protocol's signing. He described it as part of ongoing efforts to deepen strategic relations and strengthen the growing partnership between Egypt and China across various sectors. Key officials from both sides attended the signing ceremony. Egyptian Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, noted that the protocol was one of the crucial outcomes of his recent visit to China. El-Sherbiny said he had held extensive meetings with Chinese officials to discuss collaboration between CSCEC—one of the world's largest construction companies—and the Arab Contractors, a leading construction firm in Egypt, the Middle East, and Africa. "The cooperation will focus on delivering large-scale projects within Egypt and across Africa, opening new fields of work, and exploring frameworks for future cooperation," he added. This agreement came as Egypt and China prepared for President Xi Jinping's anticipated visit to Egypt. It also follows a high-level meeting between PM Madbouly and senior Chinese official Li Shulei. The visit is expected to mark a significant step forward in cooperation between Egypt and China. The agreement between CSCEC and Arab Contractors allows the two companies to leverage their combined resources and expertise to expand their footprint in Africa's promising construction sector. The new alliance also comes as China expands its investments in Egypt. According to the General Authority for Investment and Free Zones (GAFI), over 2,800 Chinese companies operate in Egypt in multiple sectors with investments exceeding $8 billion. The Arab Contractors is a state-owned leader in the construction sector in the Middle East and Africa that executes major infrastructure and transportation projects. CSCEC was ranked the world's top construction company by revenue in 2020 and eighth globally in overseas contracting. In Egypt, CSCEC is building the Central Business District in the New Administrative Capital — home to Africa's tallest tower — and the Downtown Towers project in New Alamein City. Egypt and China have a decade-long strategic partnership, aligning with Egypt's Vision 2030 and China's Belt and Road Initiative. The two countries collaborate mainly in industrial investment, joint infrastructure projects, and technology transfer. Follow us on: Facebook Instagram Whatsapp Short link:
See - Sada Elbalad
21-02-2025
- Business
- See - Sada Elbalad
Egypt Unveils Landmark Overland Route Project Linking Cairo to Chad
Egypt has announced an ambitious overland route project connecting Cairo to Chad, passing through Libya, in a move aimed at boosting regional trade and economic integration across North and Central Africa. The project was unveiled during high-level discussions in N'Djamena between Egyptian Deputy Prime Minister and Minister of Transport and Industry, Kamel El-Wazir, and Chadian President Mahamat Idriss Déby. El-Wazir emphasized that the initiative reflects Egypt's commitment to enhancing connectivity and fostering regional economic collaboration. The proposed route will be constructed in three key segments: - Egyptian Segment: Covering 400 kilometers within Egypt's borders. - Libyan Segment: Extending 390 kilometers through Libya. - Chadian Segment: Spanning 930 kilometers from the Libyan border through major Chadian towns, including Amdjarass and Abéché. President Déby hailed the project as a cornerstone for economic integration, envisioning N'Djamena as a vital trade hub. He also welcomed collaboration with Egyptian companies renowned for their infrastructure and transportation expertise. Construction has already begun on the Egyptian segment, particularly from East Oweinat toward the Libyan frontier. The Arab Contractors Company, an Egyptian firm, has secured agreements with Libyan and Chadian authorities to conduct feasibility studies and design work for their respective sections. The overland route is expected to transform trade dynamics in Central Africa, granting landlocked countries improved access to global markets through the Red and Mediterranean Seas. Experts anticipate the project will stimulate economic growth, generate employment opportunities, and strengthen diplomatic ties among Egypt, Libya, and Chad. This strategic collaboration highlights a shared vision for a more interconnected and prosperous Africa, with Cairo playing a pivotal role in driving regional development.
Zawya
19-02-2025
- Business
- Zawya
Egypt prioritizes land route project with Chad to strengthen trade, economic integration
Egypt - Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, began his visit to N'Djamena, Chad, by participating in the opening session of the International Forum for Infrastructure Development of Chad (FIDIT). The event was attended by Chadian Prime Minister Allamaye Halina and representatives from international financial institutions. During his speech, Al-Wazir reaffirmed Egypt's strong commitment to the land route project, which links Egypt, Libya, and Chad. He described the initiative as a crucial artery for development and cross-border trade, emphasizing its strategic role in deepening economic integration between Egypt and Chad. The project aims to position Chad as a major commercial hub, connecting trade routes from the Red Sea to the Atlantic Ocean. The road network is divided into three sections. The first section, spanning 400 kilometers within Egyptian territory from East Al-Owainat to the Kufra border post, is currently under construction by Egyptian companies. The second section, which stretches 390 kilometers through Libya, is under study. The third section, extending 930 kilometers from the Libyan-Chadian border to Abéché via Am Ghriss, is also in the planning phase. To accelerate progress, a memorandum of understanding has been signed between the Arab Contractors Company and the Libyan government to initiate topographical and environmental studies, along with preliminary design work for the road linking Kufra in southeastern Libya to the Chadian border. Similarly, an MoU between Arab Contractors Company and the Chadian government has been established to conduct studies and initial designs for the third section from the Libyan-Chadian border to Amdjarass. Additionally, contracts have been finalized for road construction between Amdjarass and Abéché, with preparatory studies already underway. Al-Wazir highlighted the broader progress Egypt has made in the transportation sector under Vision 2030, noting that the country has invested over 2 trillion Egyptian pounds between 2014 and 2024 in major infrastructure projects, including roads, railways, metro networks, and ports. He emphasized that strengthening regional infrastructure is key to unlocking economic potential and facilitating trade between African nations. Beyond infrastructure, Al-Wazir stressed the need to enhance economic cooperation between Egypt and Chad in key sectors such as livestock, healthcare, agriculture, and energy. He called for the activation of the Egyptian-Chadian joint committee to advance these initiatives and highlighted the significant role played by the Egyptian Agency for Partnership for Development in capacity-building and infrastructure projects. He also acknowledged the contributions of Al-Azhar's mission in Chad in fostering educational and cultural ties between the two countries. The minister urged international financial institutions to continue supporting infrastructure projects across Africa, emphasizing the need for joint funding to help countries meet pressing economic, social, and environmental challenges. He reiterated Egypt's commitment to overcoming all obstacles to implementing the land route project as quickly as possible. He expressed confidence that the initiative would lead to a transformative shift in regional trade, create new job opportunities, and improve living standards in Egypt, Libya, and Chad. Furthermore, he underscored its potential to serve as a strategic trade corridor for neighboring countries, reinforcing broader regional and continental integration efforts. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
19-02-2025
- Business
- Daily News Egypt
Egypt prioritizes land route project with Chad to strengthen trade, economic integration
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, began his visit to N'Djamena, Chad, by participating in the opening session of the International Forum for Infrastructure Development of Chad (FIDIT). The event was attended by Chadian Prime Minister Allamaye Halina and representatives from international financial institutions. During his speech, Al-Wazir reaffirmed Egypt's strong commitment to the land route project, which links Egypt, Libya, and Chad. He described the initiative as a crucial artery for development and cross-border trade, emphasizing its strategic role in deepening economic integration between Egypt and Chad. The project aims to position Chad as a major commercial hub, connecting trade routes from the Red Sea to the Atlantic Ocean. The road network is divided into three sections. The first section, spanning 400 kilometers within Egyptian territory from East Al-Owainat to the Kufra border post, is currently under construction by Egyptian companies. The second section, which stretches 390 kilometers through Libya, is under study. The third section, extending 930 kilometers from the Libyan-Chadian border to Abéché via Am Ghriss, is also in the planning phase. To accelerate progress, a memorandum of understanding has been signed between the Arab Contractors Company and the Libyan government to initiate topographical and environmental studies, along with preliminary design work for the road linking Kufra in southeastern Libya to the Chadian border. Similarly, an MoU between Arab Contractors Company and the Chadian government has been established to conduct studies and initial designs for the third section from the Libyan-Chadian border to Amdjarass. Additionally, contracts have been finalized for road construction between Amdjarass and Abéché, with preparatory studies already underway. Al-Wazir highlighted the broader progress Egypt has made in the transportation sector under Vision 2030, noting that the country has invested over 2 trillion Egyptian pounds between 2014 and 2024 in major infrastructure projects, including roads, railways, metro networks, and ports. He emphasized that strengthening regional infrastructure is key to unlocking economic potential and facilitating trade between African nations. Beyond infrastructure, Al-Wazir stressed the need to enhance economic cooperation between Egypt and Chad in key sectors such as livestock, healthcare, agriculture, and energy. He called for the activation of the Egyptian-Chadian joint committee to advance these initiatives and highlighted the significant role played by the Egyptian Agency for Partnership for Development in capacity-building and infrastructure projects. He also acknowledged the contributions of Al-Azhar's mission in Chad in fostering educational and cultural ties between the two countries. The minister urged international financial institutions to continue supporting infrastructure projects across Africa, emphasizing the need for joint funding to help countries meet pressing economic, social, and environmental challenges. He reiterated Egypt's commitment to overcoming all obstacles to implementing the land route project as quickly as possible. He expressed confidence that the initiative would lead to a transformative shift in regional trade, create new job opportunities, and improve living standards in Egypt, Libya, and Chad. Furthermore, he underscored its potential to serve as a strategic trade corridor for neighboring countries, reinforcing broader regional and continental integration efforts.
