Arclam awarded 2 government projects

Updated 10/20/2020 8:42:00 AM

ArabFinance: Arab Company for Land Reclamation (Arclam) (EALR) was awarded two projects worth EGP 90,891,614 from the Ministry Of Water Resources and Irrigation, according to an October 20th disclosure to the Egyptian Exchange.

The projects aim to rehabilitate two canals in Port Said and Sharqiya's San al Hagar.

Arclam earlier sold scrapped items at a total value of EGP 5.89 million in a public auction.

Last September, the company’s board approved to use a surplus of EGP 760,531 from the past fiscal year in reducing the accumulated losses.

Arclam is active in land reclamation and division; real estate purchase, sale, and development; housing development and management of coastal, inland, and agricultural properties, and general contracting in the coastal and desert areas.