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Award in the Sidra Project Arbitration

02 July, 2025

On 1 July 2025, the International Chamber of Commerce issued an award in the case QATAR FOUNDATION FOR EDUCATION, SCIENCE AND COMMUNITY DEVELOPMENT (“QF”) v. OBRASCON HUARTE LAIN   S.A. – CONTRACK CYPRUS LIMITED (the “JV”), arising from the Sidra Hospital project in Qatar.

Contrack (Cyprus) Limited is a subsidiary of Orascom Construction PLC (the “Company”).

The award finds the JV liable to pay QF the net sum of QAR 104,622,023 (equivalent to USD 28.7 million).

Contrack (Cyprus) Limited holds a 45% stake in the JV.

The Arbitral Tribunal has now ruled on all claims submitted by the parties except for interest and legal costs.

Given the complexity and length of the award, the Company is analyzing it together with its partner and legal advisors to evaluate the next legal steps.