February 6, 2014

President Teodoro Obiang Awarded AC New Contracts and Praised Our Performance

Within the framework of the AC policy to have a new business opportunities abroad especially in the African Market, Eng. Mohsen Salah – AC Chairman empower Eng. Ashraf Rateb – AC Board Member to visit Equatorial Guinea from 12th to 21th January 2014 to follow-up the project progress there and discussing the possibility to increase the turnover .
Teodoro Obiang Nguema – President of the Republic of Equatorial Guinea welcomed the AC delegation headed by Eng. Ashraf Rateb – AC Board Member stated that he is following up the current situation in Egypt and his fully support to the Egyptian Government and people. Besides, he invites Eng. Ibrahim Mahlab – the Minister of Housing, Utilities and Urban Communities to visit Equatorial Guinea and meet with him. President Teodoro praised the performance and the Quality of AC works in Equatorial Guinea. Eng. Ashraf Rateb stated that there will be new projects in the new economical capital city of Oyala and they have to build a new AC headquarter there. The Minister of Housing – Eng. Mahlab will laid the foundation stone of the AC headquarter in Oyala during his coming visit. The Guinean President stated that there will be new contracts to be awarded to the AC as: roadways in Oyala, military camp in Malabo including housing for the officers with a total value 80 million US$ and internal roads in Bata city (First phase) with a total value 25 million US$.
Besides, Equatorial Guinea and Liberia signed an agreement recently to build economic housing project as Fish Town project which executed by the AC in Equatorial Guinea. He said that AC will execute the project in Liberia with a total cost 100 million US$.
On the other side, Eng. Ashraf Rateb met with the Minister of Public Works and delegation from the National Center for Building and Housing Researches headed by Eng. Sherif El Adway. Eng. Sherif said that he thanked Eng. Mahlab – the Minister of Housing for choosing Equatorial Guinea to establish the First African building and housing researches center in it. During the meeteing they agreed upon a Uniform Construction Code (UCC), testing for building materials in the central labs, preparing technical cadres from Equatorial Guinea and technology transform.
In Malabo, Eng. Ashraf Rateb met with the responsibles in the Arab Contractors Equatorial Guinea Ltd. and the Guinean partners. During the meeting they discussed the business plan and Eng. Rateb asked them to increase the turnover to 200million US$ instead of the last year turnover which was 180 million US$. In addition to these, he met with the workers in the company and told them that the Minister of Housing and the AC Chairman thanking them for their efforts. Then, he visited the projects of: Fish Town Housing, Touristic Compound, Water Station 25.000m³/day, Military Camp in Bata and Elazoc – Akasi road in Mongomo. The total work amount of the AC in Mongomo is 220 million US$.