MIDDLE EAST Ӏ REGIONAL REPORT
The growth will be mainly
driven by government-led investments in transport, housing, and energy, plus rising activity in the private sector. When it comes to budget and infrastructure spending for the FY2024/25 financial year, the government announced a record capital expenditure of EGP3.9 trillion ($92.2 billion) for FY2024/25, up 30% YoY. Major allocations include a spend of EGP1 trillion ($23.6 billion) on infrastructure; a spend of EGP858 billion ($20.3 billion)
on education facilities; EGP497 billion ($11.8 billion) for the health sector; and EGP140.1 billion ($3.3 billion) allocated to scientific research. To address the budget deficit,
Egypt aims to raise a figure of EGP132.6 billion ($3 billion) via international bonds. Key investments and projects
are seeing a ramping-up of investment from private sources. For example, Egyptian economic giant Organi is expected to spend EGP44.2 billion ($1 billion) for auto manufacturing and 20,000
hotel rooms compared to the Egyptian ministry of transport which is building 2,300km of road network in FY2024/25 with a budget of EGP37 billion ($837 million). In the medium-term prospects
for the construction industry in Egypt between 2026 to 2029 are forecast to grow eight percent annually. This is supported by the construction of transport corridors, housing expansion, power grid development and effort to meet green hydrogen and renewable energy targets
LA’ALA AL KUWAIT TAKES DELIVERY OF SIXTH TADANO ROUGH TERRAIN CRANE
La'ala Al Kuwait Real Estate Company has taken delivery of a sixth new Tadano GR rough terrain crane. All six rough terrains are being utilised in the Sabah Al Ahmad Sea City Project. “The arrival of the 145-tonne GR-1450EX completes the expansion of our fleet and positions us well to handle the diverse challenges
presented by the project,” said Matthew Roden, director of infrastructure and construction management at La'ala Al Kuwait. “In addition to the GR-1450EX, Tadano has also recently supplied us with three 30-tonne GR-300EXs, one 50-tonne GR-500EXL, and one 80-tonne GR-800EX. These cranes are already proving their value, especially with their pick-and-carry capabilities, which are being effectively applied across our extensive infrastructure works. Sabah Al Ahmad Sea City is a large residential and mixed-use waterfront city in southern Kuwait. The construction site covers many kilometres of open land, where rough terrains are best-suited due to their flexibility and high mobility. Typical applications include laying several hundred kilometres of sewer and stormwater networks, bridge and building construction, marina pontoon launching, and many other infrastructure projects associated with this megacity.
20 CRANES TODAY
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