FINANCIAL NEWS

ASGC wins $817m construction deals

22 Nov 2010

(MENAFN) Bishoy Azmy, Chief Executive Officer at Al Shafar General Contracting (ASGC), announced that the construction company has been appointed as the main contractor for several major construction projects valued at $816.8 million, despite the tough market conditions for the construction industry, Gulf News reported.

The projects are based in Abu Dhabi, Dubai and Egypt, and range from residential towers to commercial centers and health care facilities, revealed Azmy.

Data shows that five of the region’s ten largest construction and infrastructure projects by value in the GCC are planned or under way in Abu Dhabi, thus, the construction company has established ASGC Al Shafar Oilfield Contracting which is based in Abu Dhabi and will focus on providing building services in the on-shore and off-shore oil gas fields, said the CEO.

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