The Development and Housing Company for Utilities (DHCU) seals contracts worth over EGP 1 bn in its projects during the fiscal year (FY) 2022/23, Invest-Gate reports.

The Company’s Chairman, Hassan El-Far announced in a general assembly meeting that the company is keen on implementing projects at the highest quality despite the ongoing economic challenges.

The company’s extraordinary general meeting approves recently extending its term of operation to 25 years ending in 2050, El-Far reveals.

It is worth noting that the consortium of DHCU and Acciona, a Spanish multinational conglomerate, signed in November 2022 an 8-year contract for the management, operation, and maintenance of the first phase of the Al Gabal Al Asfar Wastewater Treatment plant with total investments of EGP 1.71 bn.

DHCU is also implementing wastewater and water treatment projects in many governorates across Egypt, under the first phase of the Decent Life initiative, with a total cost of more than EGP 750 mn.