May 16, 2020

Bouygues Construction expands in Australia with AW Edwards acquisition

Bouygues Construction
AW Edwards
Mergers and acquisitions
Australian construction industry
Tom Wadlow
2 min
Bouygues Construction AW Edwards
French engineering giant Bouygues Construction is deepening ties in Australia after agree to purchase AW Edwards through its subsidiary Bouygues Bâtime...

French engineering giant Bouygues Construction is deepening ties in Australia after agree to purchase AW Edwards through its subsidiary Bouygues Bâtiment International.

Bouygues has been operating in Australia for around 50 years and is currently working on some of the countries biggest projects, including Sydney’s NorthConnex motorway link, the Melbourne Metro and several solar farms in New South Wales and Queensland.

AW Edwards has been a family-run business since it was set up in 1921 and will retain its brand post-acquisition. The firm has around 250 employees and turns over around $208mn.

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Nicolas Borit, Chief Executive Officer of Bouygues Bâtiment International, commented: “We have high regard for the Edwards family. Over several generations, they have successfully created an enduring company which is acknowledged for the quality of its projects and the service it provides to its customers.

“We are delighted to welcome AW Edwards’s teams into our organisation. We all share the same values and the same ambitions for the future.”

The deal is set to complete in the summer of this year, although financial details are yet to be revealed. Bouygues Bâtiment International will be purchasing all AW Edwards shares.

Bruce Edwards, Managing Director and owner of AW Edwards, added: “The transaction will see AW Edwards keep its strong position in the building sector, with the additional resources, geographic reach and expertise of Bouygues Construction behind us at every step. This means bringing best practices from around the globe to our operations in Australia.”

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Jun 16, 2021

France to invest €1.8bn in Egypt’s infrastructure

AFD
Infrastructure
investments
projects
2 min
France is making a €1.8bn investment into Egypt’s infrastructure with upgrades to the Cairo Metro and a railway to Sudan

France will invest a total of €1.8bn into Egypt’s infrastructure focusing specifically on upgrading the Cairo Metro, building a railway to Sudan, and developing water and energy schemes. Officials have called the investment a “major boost to bilateral cooperation”. 

The Cairo Metro

Included in the financing is a concessional government loan of around €800mn to upgrade Line 1 of the Cairo Metro, introduced in the 1980s. The financing will pay for 55 trainsets for the line and is provided by the French engineering company, Alstom.  

Line 6 is also due to be upgraded using further state-guaranteed loans worth up to €2bn. Bruno Le Maire said that this would be negotiated over the next six months. France and Egypt have worked in close cooperation ever since Abdel Fattah al-Sisi became president in 2014, despite differences over human rights and strong criticism of Egypt by rights activists and some foreign states.

Nine more projects over the next half a decade

A further €1bn from France’s development agency, Agence Française de Développement (AFD), aims to cover a range of other projects over the next half a decade. 

These projects include a railway line between Aswan, southern Egypt, and Wadi Halfa in Sudan, as well as several projects in the renewable energy and water purification industries. Bruno Le Maire, France’s Finance Minister, said Egypt was a “strategic partner and commercial dealings with it would be developed. France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans,” he said.

According to Le Maire, the AFD will also €150mn to support the construction of a universal health insurance programme. French contractors such as Vinci and Bouygues have a long history of working on the Egyptian capital’s underground system. 

Talking about the relationship between France And Egypt, Le Maire concluded: “France will substantially increase its direct exposure to Egypt, becoming the first counter-party for government to government loans”. 

Image: MEED

 

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