Egypt’s Korra Energi has secured a €15.43mn turnkey contract to execute integrated construction works for Japanese automotive supplier Yazaki’s electrical systems plant in Fayoum, according to a disclosure to the Egyptian Exchange. The contract carries a guaranteed maximum value of €16.68mn, subject to the value of work actually executed under its terms.
Korra will undertake the project’s civil, architectural and electromechanical works, as well as external infrastructure and utility networks. The company said the contract would generate euro-denominated revenue during execution.
The facility at Manshaet Kamal forms part of Yazaki’s expansion of automotive wiring and electrical-systems manufacturing in Egypt. Yazaki previously said the project represented an investment of about €30mn and was designed to generate annual exports of around €100mn.
The project adds to Egypt’s export-oriented automotive-components manufacturing capacity, while giving Korra exposure to a major foreign industrial investment through a euro-denominated engineering contract.
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