Egypt’s state-owned Holding Company for Construction and Development (HCCD) is expecting to gain major profits worth of EGP 1 billion from several large national projects, reported Amwal Al Ghad.

The projects are mainly focused on roads and social housing as well as the new administrative capital city that has all contributed to boost HCCD’s total turnovers, according to Chairman Mahmoud Hegazy.

The company has recorded revenues of EGP 5.8 billion in the first half of 2016 compared to last year’s EGP 2.7 billion pounds.

The largest revenues is said to have come from the new Administrative Capital, stated Al Wasat.

There are five companies who will be working  on the new Administrative Capital, including Hassan Allam which is handling 40% of the total work in the city, and Egyco which will contribute a 20% share of total works.

Hegazy also added that The Egyptian Contracting Co. and El Abd will execute 20% of work, Moukhtar Ibrahim and Misr Concrete Development Co. were assigned 20% of works in the  project.