October 20, 2020

Arclam awarded 2 projects from government


ArabFinance: Arab Company for Land Reclamation (Arclam) (EALR) has been awarded two projects amounting to EGP 90,891,614 from Ministry Of Water Resources & Irrigation, according to an October 20th dislosure to the Egyptian Exchange.

The company sold scrapped items at a total value of EGP 5.89 million in a public auction.

Arclam said it would offer the remaining unsold objects in a different auction, noting that this move comes as a result of owning some worthless equipment, cars, and other items.

The company’s board has approved last September to use a surplus of EGP 760.531 the past fiscal year in reducing the accumulated losses.

The company is active in land reclamation and division; real estate purchase, sale, and development; housing development and management of coastal, inland, and agricultural properties, and general contracting in the coastal and desert areas.

arabfinance


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