(MENAFN - Daily News Egypt) The Saudi Egyptian Construction Company (SECON) intends to inject over EGP 2bn into its projects in Egypt throughout 2017, according to the company's CEO Darwish Hassanein. He added that the company will continue implementing its existing projects, including Nile Tours on Maadi Corniche, Riyadh Secon in New Cairo, Dorra Assiut in New Assiut, and Secon Resort in New Damietta. Moreover, he said that the company will also implement new projects, which it is considering now to select the ones that best match its criteria and bring added value to investments. The Saudi government paid its 50% stake in cash in the amount of 121.5m. He stressed the importance of calculating the exchange rate gaps for construction companies as soon as possible, as project costs are rising quickly.

Source: Daily News Egypt January 09, 2017 10:58 UTC