Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added USD 650 million of new awards to its backlog in Q1 2021. These new awards mark an increase of 8% y-o-y over the level in Q1 2020.
Projects in Egypt comprised 85% of new awards during Q1 2021 as the Group added contracts across the healthcare, roads, infrastructure and commercial sectors. New awards in the U.S., which accounted for the balance, were mostly comprised of commercial and light industrial projects.
The estimated consolidated backlog stood at USD 5.3 billion as of 31 March 2021.