29 June, 2021
Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS) announces that it has signed a contract to build two textile manufacturing complexes in Damietta and El Mahalla, Egypt. The complexes will be constructed in 16 months and will be comprised of seven facilities covering a combined area of 182,000 m2 once complete.
The projects have a total contract value of EGP 2.6 billion and the client is the Holding Company for Cotton, Spinning, Weaving & Garments.
These projects will play a central role in the revival of the textile industry in Egypt. The manufacturing complexes will utilize state-of-the-art equipment across the seven different facilities. The selection of Orascom Construction highlights the importance of delivering such important projects on a critical schedule.