What Industrial Engineering Company for Construction and Development does

ICON Egypt (Industrial Engineering Company for Construction and Development) is a publicly-listed Egyptian industrial engineering company that manufactures steel-based construction products including insulated sandwich panels, cold storage panels, LGS (Light Gauge Steel) prefabricated buildings, modular caravans, steel sheets, and scaffolding/formwork. Founded in 1977 and listed on the Egyptian Stock Exchange (EGX) since 1982 under ticker ENGC.CA, the company operates from a 350,000 square meter industrial complex in Wadi Hoof, Helwan, Cairo, with annual production capacity of 2.5 million square meters of sandwich panels, 60,000 square meters of prefabricated buildings, and 250 caravan units per month. A 30,000 sqm factory in Tabuk, Saudi Arabia extends capacity for LGS modular construction targeting Vision 2030 mega-projects.

The company's technology stack centers on Light Gauge Steel prefabricated construction and insulated sandwich panel manufacturing using PUR, PIR, Rockwool, and EPS insulation cores, with cold store panels certified to EN 14509 standards and an FM Approval Class 1 Fire rating (4880). The business is organized through three core subsidiaries — ICON Panels (sandwich and cold store panels), ICON Projects (caravans and prefabricated buildings), and ICON Saudi (LGS buildings for the Saudi market) — alongside a 78.82% controlling stake in Acrow Misr, which provides scaffolding and formwork with operations across Egypt, Saudi Arabia, UAE, Romania, Nigeria, Oman, Tanzania, Kenya, Australia, Abu Dhabi, Algeria, and Qatar.

ICON generates revenue through B2B enterprise direct sales targeting construction companies, oil & gas operators, industrial facilities, and government-backed mega-projects. Pricing is quote-based, typically per square meter or per unit, with multi-year project contracts. Named contracted customers include the NEOM Project (105.6M SAR for 68 prefabricated buildings via Tatweer/ICON KSA), the Empty Quarter Project in Saudi Arabia (48 buildings), Tatweer Misr, and various worksite accommodation projects across Egypt, Kenya, and Uganda. The shareholder base is concentrated in the Sakr family (~55%+ combined), with Arafat Sakr as Chairman.

Name

Industrial Engineering Company for Construction and Development

Legal name

Industrial Engineering Company for Construction and Development

Website

https://iconegypt.com

Company type

Public

Founded year

1977

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ICON Egypt is a publicly-listed Egyptian industrial engineering company (EGX: ENGC) that manufactures insulated sandwich panels, LGS prefabricated buildings, modular caravans, and steel products, serving construction, oil & gas, and mega-project customers across Egypt, Saudi Arabia, and Africa.

Ownership category

akta.pro rank

Product category

Prefabricated Construction Materials

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Refrigeration & Service Industry Machinery (3580)

akta.pro primary industry

Cold Chain & Temperature-Controlled Storage Equipment (IMAHAKAJ)

Keywords

• Insulated sandwich panels
• Prefabricated buildings
• Light gauge steel
• Cold storage panels
• Modular caravans

Headquarters

HQ city

Helwan

HQ country

Egypt

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Sandwich Panels Manufacturing: Manufacturing and selling insulated sandwich panels for roofing and wall cladding. Egypt's largest manufacturer of insulated sandwich panels with annual capacity of 2,500,000 square meters.
2. Steel Sheets and Accessories: Manufacturing corrugated steel sheets, accessories, steel purlins, and guard rails. Products include 5 Rib, 3 Rib, Sinusoidal steel sheets, and steel deck and flashing.
3. Prefabricated Buildings: Prefabricated building units sold to commercial and industrial clients. Annual production capacity of approximately 60,000 square meters.
4. Caravan Units: Portable modular caravan units including standard, foldable, expandable, and special caravans. ICON is the leading manufacturer of modular caravan units in Egypt.
5. Subsidiary Operations - Acrow: Revenue from Acrow Misr for Scaffolding & Formwork and related subsidiaries, acquired with 78.82% contribution to capital in 2018.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

ICON manufactures and sells insulated sandwich panels, cold store panels, steel sheets, prefabricated buildings, and modular caravans. As Egypt's largest insulated sandwich panel producer, the company operates an automated 7,000 m² factory with 2,500,000 m² annual panel capacity, supplemented by steel, caravan, LGS prefabricated building, and pipes factories. Products are sold B2B to construction firms, industrial and energy clients, cold storage operators, and government projects in Egypt, Saudi Arabia, and select African and Middle Eastern markets.

Product overview

Industrial Engineering Company for Construction and Development (ICON) is Egypt's pioneer in steel-sheet-related construction products, operating through three subsidiaries: ICON Panels (sandwich panels, cold store panels, steel sheets), ICON Projects (caravans, prefabricated buildings, LGS buildings), and ICON Saudi (LGS prefabricated buildings for Saudi market). The company offers a comprehensive portfolio including insulated sandwich panels (PUR/Pir, Rock Wool, EPS variants in visible and hidden fix configurations for walls and roofs), cold store panels, steel sheets (5 Rib, 3 Rib, Sinusoidal), steel deck and flashing, and a range of caravan units (standard, foldable, expandable, special). ICON's prefabricated building solutions include traditional and LGS (Light Gauge Steel) systems with applications across residential, commercial, industrial, and institutional sectors. The company operates from a 350,000 square meter facility in Wadi Hoof, Helwan, with additional factories in Saudi Arabia (30,000 SQM in Tabuk).

Differentiator

Problem solved

Functional benefit

Brands

• ICON Panels: Egypt's largest manufacturer of insulated sandwich panels for roofing and wall cladding
• ICON Projects
• ICON Saudi
• Tatweer for Prefabricated Buildings
• ACROW

Products and services

• Insulated Sandwich Panels
• Cold Store Panels
• Steel Sheets
• Steel Deck and Flashing
• Standard Caravans
• Foldable Caravans
• Expandable Caravans
• Special Caravans
• Prefabricated Buildings
• LGS Prefabricated Buildings
• Steel Purlins
• Guard Rails
• Pipes

Quantifiable outcome

• 2,500,000 m² annual sandwich panel capacity
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• ProServices InternationalcoreImplementation/ SI/ Consulting Partner · 1 February 2025ProServices International is constructing the ICON Saudi factory in Tabuk, Saudi Arabia. This partnership established the 30,000 SQM specialized factory for prefabricated buildings and LGS structures, representing ICON's major expansion into the Saudi market.

Scale indicators12 records

Recent moves15 records

Expansion highlights6 records

Others

• Jindal Steel & Power: Indian steel and infrastructure conglomerate with steel products and prefabricated building solutions. Adjacent player in steel sheet supply and emerging prefab construction markets with partial overlap to ICON's product range.

Broad incumbents

• Kingspan Group: Global leader in insulated panels and building envelopes with extensive MENA operations. Kingspan is a direct competitor in sandwich panels with comparable product lines (QuadCore, Kingspan insulated panels) and targets the same cold storage and commercial construction segments as ICON.
• Etex Group: Belgian building materials group producing plasterboard, fibre cement, and insulated panels. Comparable as a broad incumbent in the construction materials space with overlap in panel solutions for industrial and commercial applications.
• Tata Steel Construction Products: Indian conglomerate with construction products and pre-engineered building divisions. Comparable vertical integration from steel to finished buildings and competing in African and Middle East markets where ICON operates.
• ArcelorMittal Construction: Division of ArcelorMittal producing steel construction products including sandwich panels and steel building envelopes. Broader incumbent competing with ICON's steel sheets and panels portfolio, particularly in commercial and industrial construction.

Emerging players

• Multicolor Steels (India): Indian manufacturer of pre-painted galvanized steel coils, sandwich panels, and steel building components. Similar product portfolio and emerging-market focus to ICON Panels, though primarily serves Indian and African markets.

Regional players

• Saudi Building Systems (SBS): Saudi pre-engineered buildings and sandwich panels manufacturer, part of Saudi Bugshan Group. Direct regional peer competing with ICON Saudi for prefabricated building contracts in Saudi Arabia's industrial and commercial construction segments.
• Nesma Industrial: Saudi-based conglomerate with construction materials, steel fabrication, and prefabricated buildings divisions. Directly comparable to ICON's Saudi operations as a regional peer serving similar industrial and construction customers in the Kingdom.

Direct peers

• Zamil Industrial Investment Co. Saudi Arabian manufacturer of pre-engineered steel buildings, sandwich panels, and construction materials. Competes with ICON Saudi in the Saudi market and shares focus on industrial, commercial, and Vision 2030-related construction projects.
• Assan Panel: Turkish manufacturer of insulated sandwich panels for roofing, wall cladding, and cold storage, with strong Middle East and Africa export presence. Directly comparable to ICON Panels in product portfolio, customer segments, and target geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/icon
• Facebookfacebook.com/ICONEgypt
• LinkedInlinkedin.com/company/icon-egypt
• Instagraminstagram.com/iconegypt
• Xx.com/egypt_icon

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Industrial Engineering Company for Construction and Development