Egis, a global player in the construction and engineering services sector, said it has completed the acquisition of Projacs International, a local engineering consultancy and project management company headquartered in Kuwait.
A French multinational company, Egis is involved in the areas of infrastructure and transport systems, planning, water and environment.
Founded in 1984 in Kuwait, Projacs is the largest Pan-Arab project and construction management company with offices in all the Middle Eastern countries.
In 2015, Egis had purchased 51 per cent of the shares in Projacs International, thus becoming a majority shareholder. Since then, Egis and Projacs worked on aligning the business strategies in the Middle Eastern market and enlarging their geographical reach. With the latest acquisition, Egis’ total ownership in Projacs has risen to 95.45 per cent, it added.