OCI JV wins US $393m pipeline contract

 Egypt's biggest listed builder Orascom Construction Industries (OCI) has won a US $393 million contract to build piping and other infrastructure for a water treatment plant near Cairo, according to Reuters.

Under the contract, OCI and its JV partner Hassan Allam Sons will build an intake, booster station and pipelines for the 6th October City Water Treatment Plant.

OCI said it expected to begin work this month and complete it in 36 months. The company had already included the value of the contract in its backlog for the first nine months of 2009, but did not announce the deal until Wednesday, OCI investor relations manager Omar Darwazah said to Reuters.

"We will continue to focus on infrastructure work in Egypt and the region," he said. "We are at the forefront of being awarded these contracts."

The project is expected to commence construction during Q4 2009 and will take approximately 36 months to complete.