Orascom awarded $181m power plant contract
OCI will construct a 1,500MW combined cycle power plant in Giza
Orascom Construction Industries (OCI) of Egypt has been awarded an $181m contract for work on a 1,500MW combined cycle power plant in Giza.
The contract was awarded by the Cairo Electricity Production Company, and is expected to be completed in about 32 months, OCI said in a statement.
The company is currently constructing several power plants in Egypt and Algeria, with a total power generation capacity of 5,250MW.
"The construction group continues to target key power projects in MENA, as these markets continue to face severe power supply deficits," said Osama Bishai, OCI construction group CEO.
"The group has been able to secure sizeable contracts, and we believe the power sector in the region will continue to provide great opportunities for OCI," said Bishai.