03 November, 2022
Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has formed an exclusive partnership with Denmark-based COBOD to bring state-of-the-art 3D Printing Construction (“3DPC”) technology for the first time to Egypt.
The partnership will lead the technological advancement of the construction sector in Egypt. Not only is this new technology more cost and time efficient compared to traditional methods of construction, but it is also more environmentally sustainable as it reduces material consumption, construction waste, and carbon footprint.
By leveraging Orascom Construction and COBOD’s leading positions in their respective fields, the partnership will mainly focus on three business lines: project execution, equipment sales, and operation and maintenance (O&M). The partnership will also continue to explore various opportunities in the Egyptian market for utilizing 3DPC technology in printing entire buildings.
COBOD’s printers have already been applied in multiple countries around the world and have 3D printed the first one-, two- and three-floor buildings in Europe, the first two-floor buildings in the U.S., Canada, and India, and the first schools and houses in Africa. COBOD’s printers are also used in printing windmill towers and other industrial applications.
Osama Bishai, CEO of Orascom Construction PLC, commented, “We are excited to bring to Egypt a new technology with the potential to unlock significant value particularly in the building sector. We have always led the industry in incorporating the latest technology across our work in Egypt and are pleased to partner with an industry leader like COBOD to help advance our sector in a sustainable manner.”
Henrik Lund-Nielsen, Founder & General Manager of COBOD, commented, “We are very proud to partner up with Orascom Construction in Egypt. Orascom Construction is a beacon in the Egyptian construction market and based on Orascom Construction’s knowhow and our 3D printing technology I believe we have a winning combination. With a current large project pipeline in the Egyptian housing market over the coming 5 years to keep up with the growing population, there is great potential for our partnership, and we intend to make the most out of it.”