We are discussing EGP 1bn renewable energy stations
Rayan Group owns 75% of the company and all shareholders are Egyptians
By Mahmoud Hammad
In a special interview with Middle East Observer, Halim Fansa unveiled that Gama’s business reached EGP 600m in 2015 amounting to EGP 750m in 2016, and by the following year it is expected to grow to EGP 1.2bn. Moreover, it has projects with industrial companies, like Unilever, Bonjorno, Betty, Edita Food Industries and Henkel.
He also said that they are discussing at the present time establishing solar and renewable energy stations, with over EGP 1bn businesses. But, we are still at the final phase of negotiations.
Tell us about Gama for Trading & Contracting
Gama is a contracting company that specializes in civil work, electromechanics, and solar energy. Its work is divided between the industrial and “administrative and residential” building sectors, with 60-70 per cent of its projects falling under the first. All of the company’s projects are located in Egypt.
What are its most important contracting projects?
We work in Cement line projects, owned by the Egyptian Armed Forces. Gamma is about to finish setting up one of these lines in Al-Arish City.
How big are the company’s businesses?
The company’s businesses reached EGP 600m in 2015 amounting to EGP 750m in 2016, and by the following year it is expected to grow to EGP 1.2bn.
Moreover, we have projects with industrial companies, like Unilever, Bonjorno, Betty, Edita Food Industries and Henkel.
What about Gama’s ownership structure?
We are an Egyptian company, with 100 per cent national shareholders, and 75 per cent of it is owned by Rayan Group for energy and oil exploration.
What are the energy projects you are currently working on?
We are currently working with General Electric to transfer substation, which is the first stop on the linking line between Egypt and Saudi Arabia.
Are you negotiating on new projects?
Yes, we are discussing at the present time establishing solar and renewable energy stations, with over EGP 1bn businesses. But, we are still at the final phase of negotiations.
These projects belong to foreign investors who will sell power to the Egyptian government, that’s why they hire Egyptian contractors who are experienced in the field.
What are the nationalities you work with?
Our designers are from all over the world, we have Italians, Belgians, Spaniards, and Australians, among others.
What type of projects does the company implement in energy field?
We establish all that has to do with generating power, e.g., if there is a solar power project, we install the whole station. Gama is a public contractor that carries out part of the designs with the help of foreign designers, since Egypt is wanting in this kind of expertise. We hold partnerships with foreign designers to blueprint renewable energy projects.
How much is Gama’s market value?
Gama is one of the 7 largest private contracting companies in Egypt, and is also one of the top to implement light projects.
Tell us about your target audience:
Most of them are foreigners, as we carry out projects for Gulf companies, like Emar Misr special residential sites, in which our stake reached EGP 200m. We are also working on others in Cairo Festival City for Al-Futtaim Group and in Carrefour.
Have you faced any troubles following the January 25th Egyptian Revolution?
Yes, of course we did same as any other company. But, we have managed to overcome them. The state now is providing all capabilities, the economy is revitalizing and the investors started to channel money into new projects to which we are linked, which consequently affects us for the better.
How far were you affected by the dollar crisis?
High dollar exchange rates are reflected in our price offers, but on the other hand, we try to balance this in contracts by including items to protect the contractor, so that any change in dollar value is reflected in prices. While some customers agree to this, others do not. Thus, we seek to balance our demands to win tenders.
