22 May, 2018
Orascom Construction Limited (NASDAQ Dubai: OC; EGX: ORAS) announces that its 50:50 joint venture with FCC Aqualia, a subsidiary of FCC, has signed the notice to proceed for the Engineering, Procurement and Construction (EPC) contract for Abu Rawash Wastewater Treatment plant in Egypt, paving the way for the start of construction.
The EPC contract was awarded to the JV in September 2017 for approximately USD 320 million. In addition to the EPC scope, the joint venture will operate and maintain the 1.6 million cubic meters per day facility for three years. Once complete, the facility will serve 6 million people.