ArabFinance: Orascom Construction PLC and Metito have signed an agreement worth EGP 22,361,200 with Al Fanar for Contracting, Construction, Trade, Import, and Export Company for a new project in New Alamein City, according to a statement released on December 20th. 

Al Fanar will implement the excavation work at a wastewater lift station in the new city.

The listed firm earlier entered into an agreement worth EGP 48.30 million with Hassan Allam Holding.

In October, Al Fanar penned another deal worth EGP 1.43 million with Hassan Allam Construction as well as Consolidated Contractors Company.

Al Fanar was established for the purposes of general contracting, construction, trade, import and export, in addition to land reclamation and land division, 350 for the year 2007 and Presidential Decree No. 356 of 2008.