Contracts for industrial and infrastructure projects
Orascom Construction has announced that it has signed a total of $200 million in contracts for industrial and infrastructure projects in Algeria and Egypt.
The first of two contracts in Algeria concern a greenfield cement plant with a daily capacity of 6,000 tons for a private sector client, while the other contract covers infrastructure work for an industrial complex.
The combined value of both contracts is $180 million, said Orascom, which is jointly listed on the Nasdaq Dubai and Egyptian Exchange.
In Egypt, the company’s building material subsidiary, National Steel Fabrication (NSF) has received a $20 million order to manufacture and supply all structural steel for the West Nile Delta gas development project.
“These new construction contracts build on our substantial track record in Algeria that stretches across a number of sectors including power, water desalination, petrochemicals and cement,” said Osama Bishai, CEO of Orascom Construction.
“We are also pleased to receive a large order to fabricate and supply the steel structure for an important gas development in Egypt, and look forward to further participating in this sector through our construction group and NSF,” he added.