06 March, 2016
Orascom Construction (NASDAQ Dubai: OC; EGX: ORAS) announced today that it has signed a total of USD 200 million for three industrial and infrastructure projects in Algeria and Egypt.
The first contract in Algeria is part of a greenfield cement plant with a daily capacity of 6,000 tons for a private sector client and the second comprises infrastructure work for an industrial complex. The combined value of both contracts is USD 180 million.
In Egypt, National Steel Fabrication (NSF), one of OC’s building materials subsidiaries, received a USD 20 million order to manufacture and supply all structural steel for the West Nile Delta gas development project.
Osama Bishai, CEO of Orascom Construction, commented, “These new construction contracts build on our substantial track record in Algeria that stretches across a number of sectors including power, water desalination, petrochemicals and cement. We are also pleased to receive a large order to fabricate and supply the steel structure for an important gas development in Egypt, and look forward to further participating in this sector through our construction group and NSF.”
About National Steel Fabrication
Established in 1995, National Steel Fabrication (NSF) is a manufacturer and supplier of fabricated steel products in Egypt and North Africa. NSF operates four facilities in Egypt and Algeria, two of which are the largest in the Middle East and North Africa. NSF’s total annual capacity is 120,000 metric tons per annum.