Mubasher: About 2,880 firms exited the construction market since the liberalisation of the exchange rate, member of the board at the Egyptian Federation for Construction and Building Contractors (EFCBC) Daker Abdellah revealed in an interview on TEN TV channel.
He said that the number of firms requested to join the EFCBC rose to 30,000 from 16,000 since the increase of urban projects three years ago, which includes establishing and developing a new network of roads with a length of 3,200 kilometres, developing the Hurghada port, and a plan to build 1 million housing units in five years, in addition to establishing the New Administrative Capital and electricity plants.
The construction sector can hardly obtain compensation for the accumulated losses caused by the flotation of the Egyptian pound, in accordance with the law recently issued in this regard, he noted.
