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Tuesday, 18 January 2022

Orascom Construction adds USD 785 mn to its backlog in 4Q2021

Our friends at Orascom Construction saw total new awards rise 22% y-o-y in 2021 to hit USD 3.5 bn, the company said in a statement (pdf). The firm added new awards worth USD 785 mn to its backlog in 4Q2021, the statement added. Projects in the MENA region — including transportation, water and power projects in Egypt — accounted for 55% of new awards in the last quarter of the year, while the remaining 45% were US projects, mainly in the commercial sector. The company’s consolidated backlog hit USD 6.1 bn at the end of 2021, rising slightly above the USD 6 bn record set in September 2021.

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