Orascom Construction Limited (NASDAQ Dubai: OC; EGX: ORAS) announces that its joint venture with Al Sahraa Group (UAE) has been awarded approximately USD 180 million for the expansion of Fujairah International Airport in the United Arab Emirates. OC’s share of the joint venture is 60%.
The project’s scope encompasses the main infrastructure works for the airport expansion, including a new air traffic control tower, the extension of the existing runway, a new emergency runway, rapid exit taxiways and the airport special systems.
Orascom Construction has extensive experience in the airport sector. The Group has executed similar work for the majority of military and civilian airports in Egypt as well as King Abdulaziz International Airport in Saudi Arabia and Al Dhafra Air Base in the United Arab Emirates. In addition, this project underscores Orascom Construction’s strategy to pursue quality projects outside of Egypt in sectors across the Group’s core competencies.