Cairo – Mubasher: The Industrial Engineering Company for Construction and Development (ICON) announced establishing a new subsidiary in Saudi Arabia with SAR 5 million issued capital.

The new company will manufacture, deliver, and install prefabricated buildings and caravans, according to a bourse disclosure on Thursday.

In October 2022, ICON’s board of directors agreed to establish a company as per the regulating laws in KSA.

Since its inception in 1977, ICON, a subsidiary of Arab Contractors Company, has been a pioneer in steel construction cladding and prefabricated buildings in Egypt.