29
Aug
15:06
MENA new construction projects decline in Q2: bank
New project awards were weak in the second quarter for all Middle East and North African construction companies covered by investment bank EFG Hermes, as bidding remained slow in the region.
Orascom was the only exception with $2.2 billion of new awards, coming mostly from Egypt and the US. New awards for Drake & Scull (DSI), Al Khodari and Galfar were negligible in Q2. Aggregate first-half-of-2016 new awards grew 11% year-on-year, owing to strong additions …
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