DUBAI, UAE: Orascom Construction Board has proposed the acquisition of a leading equipment importation, distribution and services business (target company) in Egypt. The Group previously announced on October 19 that the Board of Directors had approved management’s proposal to formally evaluate this potential acquisition. After evaluation, including the appointment of an Independent Financial Advisor (IFA),…
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Orascom Construction evaluates acquisition Sawiris Family business
DUBAI, UAE: Orascom Construction announced the Board of Directors approved management’s proposal to evaluate the potential acquisition of a leading equipment importation, distribution and services business in Egypt owned by Sawiris Family. Founded by the late Onsi Sawiris over 30 years ago, the target company is wholly owned by the Sawiris Family and operates independently…
Orascom led consortium to connect power grids of Egypt and Saudi Arabia
DUBAI, UAE: Orascom Construction announced that its consortium with Hitachi Energy signed a contract today with the Egyptian Electricity Transmission Company (EETC) to execute all work in Egypt to connect the national power grids of Egypt and Saudi Arabia. A separate consortium of Hitachi Energy and SSEM will execute the work in Saudi Arabia. This…
Orascom Construction gets $920 million new contract awards for Q4 2020
DUBAI: Orascom Construction (OC) announced that it has added approximately USD920 million of new awards to its backlog in Q4 2020. This brings total new awards in FY 2020 to USD 2.9 billion, reflecting the Group’s successful efforts to add high-quality projects and maintain a healthy backlog throughout the year. The estimated consolidated backlog stood…
Orascom Construction, Mitsubishi consortium signs a $800mn contract for Cairo Metro Line 4 Phase 1
DUBAI: The consortium comprising Orascom Construction PLC and Mitsubishi Corporation signed a contract with the National Authority for Tunnels (NAT) to execute the Railway Systems, Track and Depot Works Package (CP411) for Cairo Metro Line 4 Phase 1. The total value of the turnkey contract is approximately USD 800 million and Orascom Construction’s share exceeds…