Eng. Ibrahim Mahlab, Chairman of Arab Contractors, has justified his resignation highlighting that he believes in the role played by the youth who participated in the 25th of January Revolution and that this generation is capable of leading renaissance in Egypt in the coming period. He added that he is contented with his contribution to the company over the past 40 years.
Mahlab admitted that the company experiences some problems, including the accumulative debts the company owes to the government, particularly to ministries and provinces. These debts are estimated at more than EGP 9 billion, stressing that his resignation was not due to this reason or affected by any pressure from the Muslim Brotherhood in any way.
Dr. Mahlab has recommended five names to succeed him in the chairmanship of Arab Contractors and informed the Minister of Housing of these names, including the two vice presidents of the company Eng. Mohamed Adel and Eng. Sami Sa’ad, in addition to Eng. Mahmoud Ezz El-Din and Eng. Abdel Latef Ghobara, members at the board of directors, according El Gomhoria newspaper.
