Egyptian construction firm Hassan Allam has announced it will float up to 44.3% of its shares on the London Stock Exchange (LSE) and the Egyptian Exchange (EGX). The company said it intents to use the proceeds of the capital raise to develop a portfolio of solar assets in partnership with Lightsource BP – Europe’s biggest…
Egypt’s construction sector has more than 1,400 active projects that have been valued at US$348 billion, according to a report by BNC Network ahead of The Big 5 Construct Egypt Expo. The North African nation is experiencing a widespread period of prosperity, with the construction industry at the forefront of this economic growth, registering 10%…
South African engineering and construction company Murray & Roberts (M&R) has rejected a buyout offer from Germany’s ATON GmbH, labelling the approximately US$600 million offer ‘opportunistic’. ATON is already a significant shareholder in M&R, owning a third of the business, and offered to buy the rest of M&R’s shares from shareholders at a cash offer…
Canadian engineer WSP has won an infrastructure contract that will improve access to reliable energy in Zambia and Democratic Republic of Congo. WSP will build a 330,000V transmission line between the two Southern African nations after its engineers completed a three-stage feasibility study, including assessing the routes and substations, data gathering, financial and economic analysis…
Major construction work has begun at Lekki Deep Water Port at the Lagos Free Trade Zone in Nigeria, with the facility set to become a major regional hub for port operations in West Africa. The management of Lekki Port LFTZ Enterprise (LPLE) said that construction of the main breakwater for the port has commenced during…
Saudi Arabian energy firm ACWA Power has awarded an Engineering, Procurement and Construction (EPC) contract to China’s Chint Group for the development of three solar PV plants in Egypt. The US$190 million contract forms part of ACWA’s Feed-in-Tariff (FiT) programme for the projects, which will generate a combined maximum of 166MW of renewable energy. The…
First ground has been broken at the site of the US$1 billion Virgin City project in Southeast Nigeria, which will deliver an entire urban settlement including various infrastructural networks. The new city will be located at the mouth of the Cross River, South of the city of Calabar in Cross River state, and will consist…
Construction work has begun in earnest on a building in Nairobi which will become Africa’s tallest skyscraper, after Kenya’s President Uhuru Kenyatta laid the foundation stone of the development. The skyscraper has been named ‘The Pinnacle’ and will be located in the capital city’s financial hub Upper Hill, only 16km from Jomo Kenyatta International Airport.…