New research report from MEED shows Egypt was the third-biggest market for contract awards in the Middle East and North Africa region last year
Egypt was the third-biggest market for contract awards in the Middle East and North Africa region in 2016, MEEDs latest research report Outlook Egypt 2017 reveals.
This was despite security problems and a currency crisis contributing to a 23 per cent drop in the total value of deals let in the North African country in 2016.
Analysis of data from MEED Projects shows Egypt signed $18.4bn-worth of contracts during the year, moving ahead of Qatar and Kuwait to become the third-most active market in the region. The UAE was the largest, with more than $40bn of deals awarded, followed by Saudi Arabia with just over $25bn.
In both 2014 and 2015, Egypt was the fifth-largest market for awards.
Middle East contract awards, 2016
The 270-page Outlook Egypt 2017 reports finds that while other governments in the region are looking to rein in capital spending in the wake of the collapse in oil prices, Egypt is keen to push ahead with its development programme.
The largest contracts signed in Egypt last year were for the development of the Zohr field (which was only discovered in August 2015), the Dairut independent power project, and further packages on the long-running Cairo Metro scheme.
Outlook Egypt 2017 report
Outlook Egypt 2017 provides a comprehensive analysis of the core sectors of the Egyptian economy: oil, gas & petrochemicals; mining; industry; power, water & wastewater; construction & tourism; transport; and telecoms & IT, detailing key client bodies and their upcoming projects. This is provided with a political and economic overview, which sets out the challenges and opportunities facing the regions most populous nation. Buy the report here
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