OCI Construction Group Cairo, Egypt / August 16, 2010, 10:30 AM
OCI/BESIX Joint Venture Awarded US$ 60 million Contract to Build the
New Ain El Sokhna Oil and Gas Powered 1,300 MW Power Plant in Egypt
Orascom Construction Industries (OCI) announced today that an OCI/BESIX
joint venture has been awarded a contract worth the equivalent of US$
60 million for the offshore works of the new Supercritical 2×650 MW oil
and gas powered power plant in Ain El Sokhna – Egypt. The scope of
civil works includes the construction of 3 pipelines totaling a length
of approximately 5.1 km.
The client is the state-owned East Delta Electricity Production Company
(EDEPC) and the project is due for completion in 24 months.
OCI Construction Group Managing Director, Osama Bishai commented “OCI
is proud of its track record in power plant construction in Egypt, the
Middle East and North Africa regions. We will continue to target
similar projects going forward as regional governments deploy
infrastructure funds towards their power programs. OCI has been
involved in the construction of many milestone power projects in Egypt
and is confident that, given Egypt’s burgeoning demand for power, the
Construction Group will be a major participant in the country’s power
program going forward.”
About OCI Construction Group
The Construction Group ranks among the top global contractors and
operates under three distinct brands. The three groups provide a range
of construction services in key regional markets in the Middle East and
North Africa in addition to Europe, Africa and Central Asia. The Group
primarily focuses on infrastructure (energy and related infrastructure
including oil & gas, power and petrochemicals / social infrastructure
including large-scale educational campuses and healthcare facilities /
water including wastewater and desalination), transportation (including
roads, airports, ports and railway), industrial and high-end commercial
projects. To complement the construction business, OCI also owns and
operates National Steel Fabrication, the largest manufacturer of
fabricated steel products in the Middle East, and has investments in
manufacturers of glass curtain walling, paints and concrete pipes.
OCI recently announced a joint venture with Morgan Stanley to invest in
infrastructure assets in the Middle East and Africa. The proposed joint
venture is positioned to capitalize on Morgan Stanley Infrastructure’s
investing expertise and its global reach as well OCI’s local and
regional awareness of infrastructure needs.
For additional information contact:
OCI Investor Relations Department: For additional information on OCI:
Omar Darwazah www.orascomci.com
Email: omar.darwazah@orascomci.com
OCI stock symbols: OCIC.CA / ORCI
EY / OCICqL / ORSD
Erika Wakid Orascom Construction Industries
(OCI)
Email:erika.wakid@orascomci.com Nile City Towers – South Tower
2005A Corniche El Nil
Cairo, Egypt
Hassan Badrawi
Director
Tel: +202 2461 1036/0727/0914
Fax: +202 2461 9409
This information is provided by RNS
The company news service from the London Stock Exchange
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