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Tuesday, 6 November 2018

OC adds USD 520 mn in new awards to its 3Q2018 backlog, with 60% coming from Egypt

Orascom Construction (OC) added USD 520 mn in new awards to its 3Q2018 backlog, the company said in a statement on Monday (pdf). Consolidated backlog as of 30 September 2018 stood at USD 4.1 bn. Egypt accounted for approximately 60% of new awards, which were mainly across the infrastructure and wastewater treatment sectors. US sales delivered 40% of new awards, with OC signing new projects across the private-sector commercial and light industrial sectors. BESIX, OC’s Belgium-based subsidiary, added approximately EUR 380 mn of new projects in 3Q2018, bringing its total new awards to EUR 1.9 bn and backlog to EUR 3.2 bn, the company noted.

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