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Egypt's Sorouh Developments said on Sunday that it has awarded the construction contract for Phase 2 of its 10-billion-pound ($635 million) Entrada project in the New Administrative Capital to Redcon - Spain.
The developer said in a press statement that scope covers Phase 2 construction and completion of the the construction works of the first phase.
Islam Khamis, CEO of Sorouh, said that the value of contracts amounted to approximately 200 million Egyptian pounds ($13 million), adding that enabling works for the second phase has already started.
In March 2020, Zawya Projects had reported that Sorouh Developments awarded the construction contract worth more than 500-million pounds ($32 million) for Phase 1 to Redcon Spain and DETAC.
(1 US Dollar = 15.74 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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