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Thursday, 2 May 2019

Orascom Construction adds USD 475 mn to backlog in 1Q2019

Orascom, Arab Contractors sign USD 739 water treatment contract: A joint venture of Orascom Construction and Arab Contractors signed yesterday a USD 739 mn agreement with the Armed Forces Engineering Authority to set up a water treatment plant in Sharqia’s Bahr El Baqar, OC said in a statement (pdf). The facility — set to be the biggest in Egypt — will treat around 5 mn cbm/d of water, which then will be used to irrigate agricultural land in Sinai. The OC-Arab Contractors JV will also be responsible for operating and maintaining the facility for five years.

Separately, Orascom Construction announced it has added USD 475 mn to its consolidated backlog in 1Q2019, bringing its value to USD 4.2 bn as of 31 March, according to a company statement (pdf). Egypt accounted for around 75% of new awards — with projects across the infrastructure, marine, and roads market segments and in the new capital and New Alamein, the company noted. The company, which has listings on Nasdaq Dubai and the EGX, is focused on infrastructure, industrial, and high-end commercial projects and has operations in the MENA region, the US and the Pacific Rim.

Correction: 4 May, 2019

An earlier version of this article incorrectly said the facility will treat wastewater.

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