Arab Contractors, the esteemed Egyptian construction firm, has inked a substantial agreement to spearhead housing projects in Equatorial Guinea. This development is part of Equatorial Guinea’s ambitious national strategy to construct 100,000 housing units, underscoring a vital collaboration between the two nations.
The contract was formalized during a high-profile meeting between Egyptian Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, and Equatorial Guinea’s Minister of State for Public Works and Urban Planning, Clemente Ferreiro Villarino. El-Sherbiny emphasized the strategic importance of the projects, asserting, “Arab Contractors will execute these projects under the vigilant supervision of the Egyptian Ministry of Housing, ensuring adherence to the highest standards.”
Arab Contractors, a historical and current key player in Egypt’s construction landscape, has a storied presence in Equatorial Guinea, having won accolades for its high-quality projects. Ahmed El-Assar, Chairperson of Arab Contractors, noted, “Our presence in 29 countries echoes our commitment to excellence. Equatorial Guinea remains a testament to our successful international ventures.”
Since its establishment in 2003 as a joint Egyptian-Guinean enterprise, Arab Contractors – Equatorial Guinea Limited has executed projects worth approximately €1.5 billion. The firm has earned significant recognition from the Guinean government, receiving three presidential medals for its outstanding contributions in 2008, 2012, and 2015.
The company’s ongoing projects in Equatorial Guinea are expansive. In Malabo, the capital, efforts are underway to enhance infrastructure, including a significant 11.5 km internal road project in the Simo area, incorporating advanced rainwater drainage systems. Additionally, projects are advancing in the Riaba farm area and Alegri area, alongside maintaining and operating a crucial drinking water treatment facility with a capacity of 21,000 cubic meters daily. Further afield, Arab Contractors is developing vital road infrastructure, such as the 60 km Azok-Akasi Road and several urban roads in Imbini and Kojo. These projects not only exemplify the depth of Egyptian expertise but also foster economic growth and job creation in Equatorial Guinea.
Dr. Amr Adly, a Middle East economic development expert, commented, “Arab Contractors’ endeavors in Equatorial Guinea symbolize Egypt’s broader strategy to strengthen economic ties across Africa. These projects will undoubtedly contribute to local development and foster deeper regional partnerships.”
In an exclusive update to the Middle East Observer, sources reveal that Arab Contractors is in preliminary discussions for further projects that could extend its footprint in other sectors, such as renewable energy and telecommunication infrastructure, in Equatorial Guinea.