17 October, 2022
Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added USD 670 million of new awards to its backlog in Q3 2022. This brings total new awards in 9M 2022 to USD 3.1 billion.
Projects in the Middle East comprised 70% of new awards during Q3 2022, mainly across the infrastructure, logistics and commercial sectors. New awards signed by the U.S. subsidiaries accounted for 30% of total during the quarter. Projects in the data center sector accounted for a significant portion of new awards signed by the U.S. subsidiaries, highlighting the Group’s successful efforts to expand across this growing sector.
The estimated consolidated backlog stood at USD 6.1 billion as of 30 September 2022.