Orascom Construction obtains $200 mln contracts for projects in Algeria, Egypt

Ahram Online , Sunday 6 Mar 2016

Orascom Construction
Orascom Construction (Photo: Courtesy of OCI website)

Global contractor Orascom Constructions Limited (OC) was awarded two contracts worth $200 million to build a cement plant in Algeria and manufacture steel in Egypt, the company said on Sunday in an e-mailed statement.

Egypt-listed OC will build a cement plant for an unnamed private contractor in Algeria with a daily capacity of 6,000 tonnes as well as construct infrastructures for an industrial complex, both at a value of $180 million.

In Egypt, the company's subsidiary, National Steel Fabrication (NSF), will manufacture and supply all structural steel for the West Nile Delta gas development project at a value of $20 million.

The building company, which was spun off from OCI NV last year, focuses on infrastructure and industrial projects in MENA and the United States.

Orascom Construction Limited climbed 1.69 percent to EGP 50.7 a share by mid-trading in a session of gains on the Egyptian bourse on Sunday.

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