06 July, 2021
Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added USD 1.1 billion of new awards to its backlog in Q2 2021. These new awards mark an increase of 52% y-o-y over the level in Q2 2020 and bring total new awards in H1 2021 to USD 1.8 billion.
Projects in Egypt comprised 32% of new awards during Q2 2021 as the Group added contracts across the water and industrial sectors. New awards in the U.S. accounted for 68% of total during the quarter due to sizable projects in the data center sector.
The estimated consolidated backlog stood at USD 5.8 billion as of 30 June 2021.