03 October, 2017
Orascom Construction Limited (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added new projects to its backlog valued at approximately USD 750 million during Q3 2017 in the Middle East, mainly Egypt, and the United States.
Over USD 550 million of these new projects relate to infrastructure and select buildings work in Egypt, while the balance is comprised mostly of commercial and federal infrastructure work for Weitz and Contrack Watts in the U.S.
Osama Bishai, CEO of Orascom Construction, commented, “We are pleased to add a diverse mix of quality projects to our backlog across our main geographic markets. We had indicated that we are pursuing an active bidding pipeline in MENA and USA, and remain confident of our ability to secure additional work that fits our criteria.”