Arab Finance: Al Fanar for Contracting, Construction, Trade, Import, and Export Company has increased the value of its contract for excavation work in the Ras El Hekma area to EGP 27.9 million, according to a bourse statement.
The company signed an addendum to the original contract, first disclosed on May 4th, 2026, that added EGP 1.5 million to the project's value.
Al Fanar noted that the initial contract was valued at EGP 26.4 million, bringing the total contract value to EGP 27.9 million following the amendment.
In the first quarter (Q1) of 2026, Al Fanar generated 92.83% year-on-year (YoY) lower net profits after tax at EGP 208,265 when compared to EGP 2.907 million.
