17 January, 2022
Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added USD 785 million of new awards to its backlog in Q4 2021. This brings total new awards to USD 3.5 billion in FY 2021, marking a 22% increase y-o-y.
Projects in the Middle East comprised 55% of new awards during Q4 2021, which included transportation and power projects in Egypt, and water projects in Egypt and Tunisia. New awards in the U.S. accounted for 45% of total during the quarter, mainly led by projects in the commercial sector.
The estimated consolidated backlog stood at USD 6.1 billion as of 31 December 2021, reflecting a slight increase over the record backlog level achieved as of 30 September 2021.