Cairo – Mubasher: Orascom Construction Ltd (ORAS), listed on Nasdaq Dubai and the Egyptian Exchange (EGX), on Monday announced that it has added $650 million of new awards to its backlog in the last quarter of 2017.
The MENA region, mainly Egypt, has seen the largest share of new projects, comprising about $580 million, in addition to fresh projects in the US valued at approximately $70 million mainly in the private sector.
“We are maintaining our policy of securing quality projects in which we have a competitive edge, and are pleased with the continued momentum across our bidding pipeline,” CEO of Orascom Construction Osama Bishai commented.
“We are also particularly proud of our recent investment in the 250 MW build-own-operate wind farm as it underscores our strategy to pursue infrastructure investments that create new construction opportunities and long-term value for shareholders,” he continued.
ORAS had previously announced that its consortium for a build-own-operate (BOO) 250-megawatt (MW) wind farm in Ras Ghareb, Egypt has reached a “financial close”.
