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Egypt’s El Saeed Contracting mulls expansion in KSA

Egypt’s El Saeed Contracting mulls expansion in KSA
Elsaeed Contracting
UEGC
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The board of El Saeed Contracting gave the go-ahead for adding a new branch for the company in Cairo, as well as expanding operations in Saudi Arabia.

The contractor said in a statement to the Egyptian bourse that that board was briefed on the executive position of the company’s projects in Egypt. However, the board delayed its decision about the equipment prepared to meet the project needs.

Chairman Ahmed El Badrawy earlier told Mubasher that the board approved the establishment of a new subsidiary - Jsoor Infrastructure Co.

Elsaeed Contracting will hold a 15% stake in the new company’s EGP 100 million capital.

Photo Credit: Arabianeye-Reuters