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Orascom Construction Adds USD 960 Million to its Backlog in Q3 2021

12 October, 2021

Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has added USD 960 million of new awards to its backlog in Q3 2021. These new awards mark an increase of 42% y-o-y over the level in Q3 2020, bringing total new awards in 9M 2021 to USD 2.8 billion.

Projects in Egypt comprised 65% of new awards during Q3 2021, which included a contract to design, install, commission and maintain Egypt’s first high-speed rail system. New awards in the U.S. accounted for 35% of total during the quarter, mainly led by large projects in the student housing sector.             

The estimated consolidated backlog stood at USD 6.1 billion as of 30 September 2021.

Orascom Construction Adds USD 960 Million to its Backlog in Q3 2021

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