ArabFinance: Integrated Engineering Group (INEG) (IEG) signed an agreement with Devzah Contracting Company to be able to submit bids for big projects, according to a statement filed to the Egyptian Exchange (EGX).

Under the agreement, the two companies partnered to establish contracting and construction projects, as well as carry out metal, mechanical, and electromechanical installations.

Both firms will implement the management and supervision of engineering projects.

IEG earlier signed an EGP 4,597,000 agreement with Hassan Allam Construction for a black sand project.

IEG posted a net loss of EGP 2,960,816 in the first half of 2020, a 97% increase from EGP 1,502,102 incurred in the corresponding period a year earlier.

Integrated Engineering Group is an Egypt-based public company listed on the EGX in 2014. The company operates within the capital goods sector focusing on construction and engineering.