Cairo – Mubasher: Orascom construction Plc has signed a $739 million contract to build the biggest water treatment plant in Egypt in collaboration with the Arab Contractors.
The plant is expected to have a capacity of 5 million square metres, Orascom said in a statement to the Egyptian Exchange (EGX) on Thursday.
The treated water will be used in agricultural purposes and land reclamation, the company highlighted.
In addition to the plant’s construction work, the consortium is set to operate and conduct maintenance for the plant for a five-year period, according to the statement.
During full-year ended 31 December 2018, Orascom construction posted a net profit of $154.7 million, versus $85.1 million a year ago.
