An Egyptian construction firm is set to enter the Kenyan market, stepping up competition for local contractors.
Arab Contractors Company (ACC), one of the leading construction firms in the Middle East and Africa, is set to begin operations in the country in December.
The firm’s top managers met officials from the Ministry of Infrastructure, Housing and Urban Development last month regarding the planned entry.
According to Ahmed Saber, Arab Contractor’s representative in Kenya, ACC aims to bite a significant market share of Kenya’s construction pie in the next two years.
“We have the muscles to fund and carry out various construction projects not only in Kenya but across Africa,” said Mr Saber.
Financial reports posted on the company’s website show the firm’s turnover hit $3.2 billion in January 2015.
Its project allocations varied between $1.7 billion for roads, $718 million for housing and construction, 350 million for infrastructure and $37 million for bridges. The company has a workforce of 77, 000 employees.